Sunday, October 25, 2026 — the current gamma regime and key dealer-flow levels
SPX is trading near 7,624, below the gamma flip at 7,731. Net dealer gamma is negative (−$4420.26B), 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 7,731 would restore calmer, range-bound trade.
| SPX spot | 7,624 |
|---|---|
| Gamma regime | Negative gamma |
| Gamma flip (zero gamma) | 7,731 |
| Call Wall (resistance) | 7,800 |
| Put Wall (support) | 7,600 |
| Max Gamma (pin) | 7,600 |
| Net dealer GEX | −$4420.26B |
| 1-day expected move | ±81 pts |
| 0DTE gamma concentration | 10% |
Snapshot: 5:00 AM EDT on Sunday, October 25, 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