Reading the market regime before prices move
Every number here is computed from the traded HAL options chain. The call wall is where dealer hedging accumulates above spot and caps upside, the put wall is its mirror below, and the gamma flip is the level where hedging stops damping moves and starts amplifying them.
Computed
The gamma walls and flip point for HAL are available to subscribers.
Price moves between these levels whether you see them or not. The difference is knowing them before your decision, not after.
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| Strike | Calls | Puts | Today's volume | Skew |
|---|---|---|---|---|
| 29.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 29.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 30.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 30.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 31.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 31.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 32.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 32.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 33.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 33.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 34.00 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 34.50 | ▮▮▮ | ▮▮▮ | ▮▮▮ | ▮▮▮ |
Session closes from to
| Day | Price | Gamma flip | Call wall | Put wall |
|---|---|---|---|---|
| 2026-09-28 | 32.52 | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 2026-09-29 | 31.46 | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 2026-09-30 | 31.80 | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 2026-10-01 | 31.91 | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| 2026-10-02 | 31.88 | ▮▮▮ | ▮▮▮ | ▮▮▮ |
| Metric | Value |
|---|---|
| Max pain strike | ▮▮▮ |
| Put/Call ratio · today's volume | ▮▮▮ |
| Put/Call ratio · open interest | ▮▮▮ |
| 0DTE gamma flip | ▮▮▮ |
| 0DTE contracts in chain | ▮▮▮ |
| Total contracts read | ▮▮▮ |
Price 31.88 is under the gamma flip ▮▮▮ by ▮▮▮%. Positioning is negative: dealer hedging runs with the move rather than against it, so jumps become wider and reversals sharper. Sessions in this state move more than the size of the news would suggest. Price is inside the range between ▮▮▮ and ▮▮▮, closer to Call wall of the two.
The largest call cluster sits at ▮▮▮ and the largest put cluster at ▮▮▮. They are 1.59% apart — a normal range: HAL tends to stay inside it while positioning holds, because hedging at each wall resists a break through it.
Net gamma exposure for HAL is ▮▮▮ — a limited size. Hedging for a 1% move is about ▮▮▮ shares. In this range hedging stays secondary to the stock's own flow, so the levels below should not be asked to carry more than they can.
and this reading is built on 386 contracts in the chain.
Over the last 23 days of tracking (257 archived snapshots), HAL stayed above the gamma flip in 84% of readings، and the flip itself moved between ▮▮▮ and ▮▮▮ — a 10.23% range, which means the level moves with the market and does not serve as a fixed reference across days، and net exposure today is below the period average (▮▮▮).