Today's dealer gamma levels for Nasdaq-100 (NQ), S&P 500 (ES) and COMEX gold (GC/MGC) futures: the Gamma Flip that separates a calm, mean-reverting tape from a fast, trending one, plus the Call Wall (resistance magnet) and Put Wall (key support). Computed from full index option chains and refreshed through the US session. Free, no sign-up.
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no futures basis · Source scale: no suitable futures basis or GC/GLD ratio is available for this session, so its levels are shown without conversion.
Levels will appear here during the next trading session.
no futures basis · Source scale: no suitable futures basis or GC/GLD ratio is available for this session, so its levels are shown without conversion.
Levels will appear here during the next trading session.
GEX options data is delayed at source by about 15 minutes. Its observation time is shown with the values.
NQ futures scale: the current session uses the same available basis as the live card; past sessions use their stored basis. Rows marked ‡ have no suitable basis and remain in Nasdaq-100 index points (NDX).
| Date | Flip | Call Wall | Put Wall | Regime |
|---|
Above the flip, dealers are long gamma: their hedging fades moves, so the tape tends to be calm and mean-reverting. Below the flip, dealers are short gamma: hedging chases price, so expect faster, trendier moves — flushes down and squeezes up.
The strike with the largest positive gamma above price. It often acts as a magnet and then resistance into expiry; a decisive break above it can open room to the next level.
The strike with the largest negative gamma below price — a key support. Breaking below it in a negative-gamma regime can accelerate a selloff; reclaiming it often fuels a sharp bounce.
Net GEX tells you which regime dominates overall (positive = stabilising, negative = destabilising). Max Pain is the price options "pull" toward, strongest into monthly expiration (OPEX Fridays).
GEX estimates how much hedging the options dealers must do as price moves. When dealers are net long gamma they buy dips and sell rips (dampening volatility); when net short gamma they do the opposite (amplifying it). The Gamma Flip is the price where that balance flips.
Nasdaq-100 and S&P 500 (NQ/MNQ and ES/MES futures, plus QQQ/SPY), and now COMEX gold — GC/MGC futures, computed from GLD options. Index values are in index points (NDX/SPX); gold levels are on the GC futures scale (≈ GLD × 10.9). On a chart the WyckFlow study aligns the scale automatically.
Through the US session, refreshed roughly every 15–30 minutes from the London morning to the New York close, including the morning open-interest update. Outside a session the last available levels are shown with their trading-day date.
Full index option chains from an official, delayed exchange source. The Gamma Flip is derived by repricing gamma with the Black-Scholes model, not a quick cumulative-sum shortcut.
No. These levels are informational/educational context about options positioning. They are not a trade signal, a recommendation, or investment advice.
The WyckFlow GEX study draws all of this directly on your MotiveWave candles — flip, walls, Max Pain, delta exposure, Vanna/Charm flows and a 0DTE view — updated automatically. 14-day free trial, no card.
Method: computed from full NDX/SPX (and GLD for gold) option chains (delayed). Gamma Flip via Black-Scholes repricing. Informational only — not investment advice.