GAMMA EXPOSURE

$753.71 CACHE 73S OLD 6 EXPIRIES
BULLISH LONG GAMMA · STABLE
LONG GAMMA · VOL-DAMPENING · NET GEX $13.9M

Total net GEX is positive ($+14M) with spot above the gamma flip. Dealers buy dips and sell rips — expect contained, mean-reverting moves. Call wall at $760 is the resistance, put wall at $750 is the floor.

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SPOT
$753.71
CALL WALL
$760
resistance / pin
PUT WALL
$750
support / pin
FLIP
$659.5
vol regime change
WHAT IS GAMMA EXPOSURE? ▾

Gamma exposure (GEX) shows where options market makers will buy or sell the underlying stock to hedge their books — which often creates natural support, resistance, and acceleration zones.

Call wall (green): a strike where market makers are heavily long calls. They sell stock as price rises toward it, creating resistance.

Put wall (red): a strike where market makers are heavily short puts. They buy stock as price falls toward it, creating support.

Gamma flip: the price level where the dealer's net gamma changes sign. Above it = volatility-dampening. Below it = volatility-amplifying. Crossing it intraday often triggers explosive moves.

2D BARS sums every expiry into one chart per strike — quick read. 3D SCATTER separates each expiry on the Y-axis — deeper dive. Same data, different views.