Net gamma exposure by strike ($M per 1% move) · estimated from the TSM options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in TSM right now. The heaviest is 375 at -5.3M per 1% move, 6.8% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 430 | +3.4M | 6.9% | pins price |
| 425 | +3.3M | 5.6% | pins price |
| 415 | +3.9M | 3.1% | pins price |
| 400 | -5M | -0.6% | accelerates moves |
| 390 | -3.9M | -3.1% | accelerates moves |
| 375 | -5.3M | -6.8% | accelerates moves |
As of the latest session, TSM is trading at $402.36 (-0.87% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 415 (upside magnet / resistance) and the put wall at 375 (downside level). Max pain is 425, and the options market is pricing a 1-sigma expected move of about ±4.8% (ATM IV 53%).
One strike dominates the map: 375, carrying −$5M 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 ±4.8% (±$19.42) into the nearest expiry, with ATM implied volatility at 53% — neither stretched nor giving anything away.
That leaves a working band of 375 to 415 — 9.9% of spot, with +3.14% of room to the call wall and −6.80% 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 TSM on the live gamma map → · see how TSM compares across the whole board on the free market regime tracker · new to this? What is GEX →
TSM 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.
TSM's flip isn't resolvable from the current chain — check the live map for today's level.
TSM's flip is not resolvable from the current chain. Pull it live on the free map — the level moves with open interest, so a stale number is worse than none.
TSM's call wall (415) is a magnet and resistance; the put wall (375) is support in positive gamma but a through-level once price is below the flip.
425, for the 2026-11-06 expiry — 3 days out. Spot is $402.36, so max pain sits 5.6% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -16M per 1% move into the 2026-11-06 expiry — though spot is below the zero-gamma flip, so hedging at this price runs with the move and adds to it. GEX describes the character of the tape, not the direction. How dealer gamma works →
The flip, walls and max pain before the open — free. No card required.
Also see the flow side: TSM options flow →
Posting the link is enough — X, Discord and Slack render the live data card automatically.
Live TSM dealer gamma, updates itself. No signup, no API key. Copy and paste:
Keep the credit line — it's the only thing we ask for.
This is the free auto-read. Premium members get the daily SPY gamma drop — the map turned into a scenario-by-scenario trading plan — plus the live conviction desk and AI copilot.
Estimated from the TSM options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
