| Spot price | 746 | Delayed quote at snapshot time |
|---|---|---|
| Zero Gamma (Gamma Flip) | None within ±15% | Net dealer gamma is positive across the entire tested band in this snapshot |
| Call Wall | 750 | Heaviest call-gamma strike in the window |
| Put Wall | 750 | Heaviest put-gamma strike in the window |
| Max Pain (2026-10-07) | 735 | Nearest expiration only |
| Net GEX | 0.66 $Bn / 1% move | Expirations through monthly OpEx 2026-10-16 |
This snapshot has no Zero Gamma crossing within ±15% of spot: net dealer gamma is positive across the whole tested band, an unusually one-sided book. If a flip exists, it sits outside that range. The heaviest call-gamma strike (Call Wall) sits at 750 overhead, and the heaviest put-gamma strike (Put Wall) at 750 above spot, already breached; together they frame the band where dealer hedging is concentrated today. Net dealer gamma across all listed expirations totals 0.66 $Bn per 1% move (positive).
Meta trades a deep, liquid book with pronounced OI concentration at monthly strikes. Its walls tend to hold well while the tape is in positive gamma and give way fast once the regime flips negative — the stock has a history of trending hard when the hedging cushion comes off.
These are the same structural levels the free GEX Metrix dashboard draws as charts: dealer hedging pressure, mapped to price. If the mechanics are new, start with what gamma exposure actually is, then the chart-reading walkthrough. Futures traders (ES, NQ) can map these levels directly — here is how.
Open the FREE dashboard| Strike | Call GEX ($Bn/1%) | Call OI |
|---|---|---|
| 750 | 0.18 | 27,104 |
| 800 | 0.07 | 29,079 |
| 755 | 0.05 | 7,540 |
| 700 | 0.05 | 17,645 |
| 765 | 0.05 | 10,821 |
| Strike | Put GEX ($Bn/1%) | Put OI |
|---|---|---|
| 750 | 0.04 | 5,531 |
| 700 | 0.03 | 10,761 |
| 730 | 0.02 | 3,646 |
| 720 | 0.02 | 4,827 |
| 740 | 0.02 | 3,420 |
As of 2026-10-06 06:18 ET (15-minute delayed data): no Zero Gamma crossing within ±15% of spot, Call Wall at 750, Put Wall at 750, and net dealer GEX of 0.66 $Bn per 1% move.
The strike carrying the heaviest call gamma in the current window — right now 750. As price rallies toward it, dealer hedging leans against the move, which is why the level often behaves as resistance.
The price where net dealer gamma crosses zero. In this snapshot there is no crossing within ±15% of spot — net dealer gamma is positive across the whole tested band.
Levels recompute every 15 minutes during US market hours from delayed options data, using expirations from today through the current monthly OpEx (2026-10-16) on the overnight open-interest base. The free dashboard applies our intraday OI model on top of the same base.
Levels on this page are computed from the latest 15-minute delayed snapshot: 1,055 option series expiring between today and the current monthly OpEx (2026-10-16) — the same default window the dashboard uses (422,370 call OI / 225,962 put OI). Open interest here is the overnight print, not an intraday estimate. The dashboard additionally runs our intraday OI model on top of this base, so its levels can differ from these raw ones during the session. GEX per option = gamma × OI × 100 × spot² × 0.01, puts negative; Zero Gamma from a Gaussian-weighted profile across ±15% of spot; Max Pain by the intrinsic-value method on the nearest expiration. Where our data sits in the vendor landscape: the GEX Data Ladder.