Gamma Exposure

SPYMarket-Maker GEX

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Vol Regime · Daily Net Gamma

Daily net dealer gamma (summed across all strikes and expirations).
Positive = volatility suppression → favors mean-reverting regimes
Negative = volatility amplification → favors trending/breakout regimes
Days when net gamma crosses zero ("gamma flips") have historically marked elevated volatility periods.

Gamma Walls · By Strike

Net dealer gamma by strike (today's snapshot).
• Large positive bars (call walls) act as price magnets and resistance.
• Large negative bars (put walls) act as support.

Exposure · By Expiry

Gamma exposure broken down by option expiration date.

Gamma exposure values are end-of-day estimates based on settled open-interest data and the standard dealer-positioning assumption (customers buy puts and sell calls, dealers take the other side). Real dealer positioning can differ from the assumption when large institutional hedges flow in the opposite direction. Treat as one signal among many, not a deterministic price target.