How options-dealer hedging is likely to push GameStop (NYSE: GME) around — the net gamma exposure, the gamma flip (zero-gamma level), whether GME sits in a positive- or negative-gamma regime, and the call/put gamma walls that pin or accelerate price. Computed live from the GME option chain. Free, updated through the trading day, no account needed.
Net dealer gamma, the flip level, and the regime it implies. Net GEX is expressed as the dollar hedging flow per 1% move in GME across the near-dated chain.
GEX is a positioning and volatility map, not a price target or trading advice.
The strikes carrying the most dealer gamma. Pins (positive gamma) tend to attract and hold price into expiration; acceleration strikes (negative gamma) tend to speed moves up once breached. Distance from the live price is computed on load.
| Strike | Type | Distance | |
|---|---|---|---|
| Loading the live GME gamma profile… | |||
Walls shift with open interest — most after each settlement and around expiration.
The complete GEX curve, every gamma and OI wall plotted on the price pane, live options flow and the daily dealer-positioning read — updated through the session. Start a 7-day free trial — cancel anytime.
Gamma exposure (GEX) estimates how many GME shares options dealers must buy or sell to stay hedged as the price moves. When you buy an option, a dealer is usually on the other side and hedges with stock. As GME moves, the dealer's hedge has to change — and the size and direction of that forced flow is what GEX maps.
In a positive-gamma regime (price above the gamma flip), dealers are net long gamma. To stay hedged they buy dips and sell rips, which compresses GME's intraday range and tends to pin price toward heavy strikes. Quiet, mean-reverting tape is the signature.
In a negative-gamma regime (price below the flip), dealers are net short gamma. They sell into weakness and buy into strength, which widens the range and can fuel sharp, trending moves in either direction. This is the environment where GME's violent days tend to happen.
The gamma flip (or zero-gamma level) is the price where aggregate dealer gamma crosses from positive to negative. It often acts as a volatility switch: above it the tape tends to calm, below it it tends to accelerate. Watching where GME sits relative to the flip is more useful than the raw GEX number alone.
Gamma walls are strikes with a large concentration of dealer gamma. A positive-gamma wall (a pin) behaves like a magnet into expiration; a negative-gamma wall (an acceleration strike) tends to speed price up once it breaks through. The call wall and put wall are the strikes with the largest call and put gamma, and they often frame the day's expected range.
GEX describes how dealer hedging is likely to behave — it does not predict direction. Informational and educational only, not financial advice.
GEX estimates how much options-dealer hedging will buy or sell GameStop shares as the price moves, computed from open interest and option gamma across the GME chain. Positive net GEX means dealers are long gamma and tend to dampen moves (mean-reversion, pinning); negative means they are short gamma and tend to amplify moves.
The gamma flip (zero-gamma level) is the price where aggregate dealer gamma crosses from positive to negative. Above it, dealer hedging usually suppresses volatility; below it, it usually accelerates. The current estimate is shown in the cards above.
In positive gamma, dealers buy dips and sell rips to stay hedged, compressing GME's range and pinning price toward heavy strikes. In negative gamma, dealers sell weakness and buy strength, widening the range and fueling sharp moves either way.
A gamma wall is a strike with a large concentration of dealer gamma. Positive-gamma walls (pins) attract and hold price like a magnet into expiration; negative-gamma walls (acceleration strikes) speed price up once breached. The call wall and put wall are the largest call and put gamma strikes.
GME Radar computes GEX per strike from the live option chain as gamma × open interest × contract multiplier × the dollar value of a 1% underlying move, signed for assumed dealer positioning. Per-strike values are summed for net GEX and evaluated across a price grid to locate the gamma flip.
No. GEX is a positioning and volatility map, not a price forecast. It describes how dealer hedging is likely to behave at given levels — which can pin or accelerate moves — but it does not predict direction. Informational and educational only.
This page refreshes net GEX, the flip, regime and walls from the latest cached option-chain read during the trading day. Open interest itself updates once daily after settlement, so the gamma map shifts most after each clearing update and around expiration.
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