Thursday, September 10, 2026 — the current gamma regime and key dealer-flow levels
SPX is trading near 7,636, below the gamma flip at 7,710. Net dealer gamma is negative (−$3171.53B), so market-maker hedging is amplifying moves — expect wider ranges and the risk of accelerated selloffs. The Put Wall at 7,600 is the downside magnet to watch; reclaiming the gamma flip at 7,710 would restore calmer, range-bound trade.
| SPX spot | 7,636 |
|---|---|
| Gamma regime | Negative gamma |
| Gamma flip (zero gamma) | 7,710 |
| Call Wall (resistance) | 7,600 |
| Put Wall (support) | 7,600 |
| Max Gamma (pin) | 7,500 |
| Net dealer GEX | −$3171.53B |
| 1-day expected move | ±53 pts |
| 0DTE gamma concentration | 4% |
Snapshot: 3:30 AM EDT on Thursday, September 10, 2026. Free data is delayed; Pro shows real-time levels.
See these levels on the live chart
Real-time gamma flip, Call Wall, Put Wall, and Max Gamma
View Live DashboardThese levels are computed from options open interest — they map where market-maker hedging concentrates, and therefore where price tends to find support, resistance, and acceleration. Each one has a deep dive:
Informational only, not financial advice. Levels shift continuously as open interest changes.
Dealer Flow Explained — the hub: how dealer hedging moves markets
What Is the Gamma Flip Level? — the regime line above
Gamma Exposure (GEX) Explained — how the levels are calculated
Why Does SPX Pin at Certain Strikes? — what Max Gamma does