| Spot price | 190.46 | Delayed quote at snapshot time |
|---|---|---|
| Zero Gamma (Gamma Flip) | 177.7 | Price where net dealer gamma crosses zero |
| Call Wall | 195 | Heaviest call-gamma strike in the window |
| Put Wall | 190 | Heaviest put-gamma strike in the window |
| Max Pain (2026-10-09) | 187.5 | Nearest expiration only |
| Net GEX | 0.09 $Bn / 1% move | Expirations through monthly OpEx 2026-10-16 |
Spot is trading 12.8 points above the Zero Gamma level (177.7), which puts dealers in net positive gamma: their hedging leans against price moves, and the baseline odds favor compression and mean-reversion over follow-through. The heaviest call-gamma strike (Call Wall) sits at 195 overhead, and the heaviest put-gamma strike (Put Wall) at 190 underneath; together they frame the band where dealer hedging is concentrated today. Net dealer gamma across all listed expirations totals 0.09 $Bn per 1% move (positive).
Palantir is the retail favorite of this list: high implied volatility, call-skewed flow, and OI stacked at round-number strikes. During runs, expect the call wall to migrate upward as fresh buying lands above the old strikes — yesterday's ceiling becomes today's floor more often here than anywhere else on this page.
These are the same structural levels the free GEX Metrix dashboard draws as charts: dealer hedging pressure, mapped to price. If the mechanics are new, start with what gamma exposure actually is, then the chart-reading walkthrough. Futures traders (ES, NQ) can map these levels directly — here is how.
Open the FREE dashboard| Strike | Call GEX ($Bn/1%) | Call OI |
|---|---|---|
| 195 | 0.03 | 22,680 |
| 200 | 0.02 | 27,481 |
| 197.5 | 0.02 | 14,520 |
| 190 | 0.02 | 12,127 |
| 205 | 0.01 | 24,728 |
| Strike | Put GEX ($Bn/1%) | Put OI |
|---|---|---|
| 190 | 0.02 | 11,654 |
| 185 | 0.01 | 10,064 |
| 180 | 0.01 | 9,633 |
| 175 | 0.01 | 14,470 |
| 170 | 0.01 | 19,992 |
As of 2026-10-06 06:25 ET (15-minute delayed data): Zero Gamma at 177.7, Call Wall at 195, Put Wall at 190, and net dealer GEX of 0.09 $Bn per 1% move.
The strike carrying the heaviest call gamma in the current window — right now 195. 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 — currently 177.7. Above it, hedging dampens moves; below it, hedging amplifies them.
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: 256 option series expiring between today and the current monthly OpEx (2026-10-16) — the same default window the dashboard uses (272,475 call OI / 264,787 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.