Gamma Exposure: where dealers are pinned.
Gamma exposure (GEX) — the call wall, put wall, and gamma flip that shape where price gets capped, floored, and pinned — for the names that move the tape. Pick a symbol for its full read, or open the live heatmap in the scanner.
Chart and track plays with us.
SPDR S&P 500 ETF
See where the flow actually printed.
20 prints today.
SPY
—Gamma positioning unclear for this session.
QQQ
Neg γDealers net short gamma — moves tend to get amplified.
IWM
—Gamma positioning unclear for this session.
AAPL
Pos γDealers net long gamma — moves tend to get dampened.
TSLA
—Gamma positioning unclear for this session.
NVDA
Pos γDealers net long gamma — moves tend to get dampened.
META
Pos γDealers net long gamma — moves tend to get dampened.
MSFT
Pos γDealers net long gamma — moves tend to get dampened.
AMZN
Pos γDealers net long gamma — moves tend to get dampened.
GOOGL
Pos γDealers net long gamma — moves tend to get dampened.
AMD
Pos γDealers net long gamma — moves tend to get dampened.
NFLX
Pos γDealers net long gamma — moves tend to get dampened.
This week's options flow, aggregated
GEX shows dealer structure; the Weekly Options Flow Report shows what traders actually did with it — sector premium, largest trades, and notable sweeps for August 24–28, 2026 ($21.0B in observed premium).
Read the latest weekly report →Frequently asked questions
What is gamma exposure (GEX)?
Gamma exposure measures the total hedging obligation options dealers carry at each strike price. When dealers sell options, they hedge by buying or selling shares of the underlying as the price moves — the size of that mechanical hedging flow at a given strike is its gamma exposure.
What is a gamma wall?
A gamma wall is a strike price with unusually high open interest that creates a strong dealer-hedging force. A call wall (the highest call-side GEX strike) tends to act as resistance; a put wall (the highest put-side GEX strike) tends to act as support.
What is dealer gamma?
Dealer gamma is the direction options market makers are net positioned in at a given strike. Long (positive) dealer gamma means they hedge by trading against the move, dampening price action. Short (negative) dealer gamma means they hedge by trading with the move, amplifying it.
What is the gamma flip (zero gamma) level?
The gamma flip, or zero gamma level, is the price where net dealer gamma exposure crosses from positive to negative. Above it, dealer hedging tends to dampen moves; below it, dealer hedging tends to accelerate them — it's the line between a calm tape and a volatile one.
How is gamma exposure different from options flow?
Options flow tracks individual trades as they happen — sweeps, blocks, and unusual prints that signal conviction. Gamma exposure is a structural map of dealer hedging obligations across all open interest at every strike. Flow tells you what traders are doing right now; GEX tells you where price is likely to get capped, floored, or accelerated regardless of who's trading.
Full walkthrough with real examples: What Is Gamma Exposure (GEX)? A Trader's Guide
Levels are modeled from options open interest and refresh each session (as of Aug 28, 2026 5:04 PM ET). They describe dealer-hedging structure, not a directional signal, and are not financial advice. Live, intraday levels are in the Profit Builders scanner.