Net gamma exposure by strike ($M per 1% move) · estimated from the TJX options chain (Polygon).
As of the latest session, TJX is trading at $152.05 (-1.14% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 160 (upside magnet / resistance) and the put wall at 145 (downside level). Max pain is 155, and the options market is pricing a 1-sigma expected move of about ±5.6% (ATM IV 53%).
One strike dominates the map: 145, carrying −$10M per 1% move — below the current price. Negative gamma that size behaves like an accelerant — dealers chase price through it rather than defending it.
The options market is pricing a 1-sigma move of ±5.6% (±$8.49) into the nearest expiry, with ATM implied volatility at 53% — neither stretched nor giving anything away.
That leaves a working band of 145 to 160 — 9.9% of spot, with +5.23% of room to the call wall and −4.64% down to the put wall. In a positive-gamma tape the edge is fading the edges of that band rather than chasing either end.
Want it interactive? Open TJX on the live gamma map → · see how TJX compares across the whole board on the free market regime tracker · new to this? What is GEX →
TJX is in positive gamma with — of room above the null flip. Dealers are damping moves, so expect a mean-reverting tape that pulls back toward the heavy strikes.
TJX's flip isn't resolvable from the current chain — check the live map for today's level.
The zero-gamma flip is the price where TJX's net dealer gamma crosses zero — above it price tends to pin, below it it tends to trend. See TJX's live flip on the free gamma map.
TJX's call wall (160) is a magnet and resistance; the put wall (145) is support in positive gamma but a through-level once price is below the flip.
TJX's max pain is 155 — the strike where the most options expire worthless. In a positive-gamma tape, price often gets drawn toward max pain into expiration.
Gamma exposure is a map of where option dealers are forced to hedge. Positive GEX = dealers sell strength / buy weakness (suppresses volatility, pins price). Negative GEX = dealers chase the move (amplifies volatility, trends). It tells you the character of the tape, not the direction. Full GEX guide →
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Estimated from the TJX options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
