Reading the market regime before prices move

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GAMMA EXPOSURE · Dealer positioning

MS Gamma Exposure Today: Positioning Walls and the Flip

Every number here is computed from the traded MS 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.

190.32$ Negative gamma Last update:

The short answer

Where is the MS gamma flip today?
Price 190.32$ is below the gamma flip, and gamma is negative. The exact level is for members.
Where are the MS call wall and put wall?
Both walls are computed from the options chain and refresh during the session. Their levels are for members.
What does MS gamma positioning mean for the session?
Gamma is negative: dealer hedging tends to move with price, so swings widen and reversals get sharper. A positioning read, not advice. Exact levels and minute-by-minute tracking are for members. Unlock every symbol: 5 free trading sessions ←

Computed

Call wall ▮▮▮
Put wall ▮▮▮
Gamma flip ▮▮▮

🔒 Execution levels are locked

The gamma walls and flip point for MS 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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▮▮▮ Spot right now ▮▮▮

Gamma on other symbols

Options chain around MS price

MS · open interest at each strike.
Strike Calls Puts Today's volume Skew
177.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
180.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
182.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
185.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
187.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
190.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
192.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
195.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
197.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
200.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
202.50 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮
205.00 ▮▮▮ ▮▮▮ ▮▮▮ ▮▮▮

How the levels moved at each session close

Session closes from to

MS archive · each session's close.
Day Price Gamma flip Call wall Put wall
2026-09-28 193.77 ▮▮▮ ▮▮▮ ▮▮▮
2026-09-29 192.97 ▮▮▮ ▮▮▮ ▮▮▮
2026-09-30 188.90 ▮▮▮ ▮▮▮ ▮▮▮
2026-10-01 187.50 ▮▮▮ ▮▮▮ ▮▮▮
2026-10-02 190.34 ▮▮▮ ▮▮▮ ▮▮▮
MS numeric indicators.
MetricValue
Max pain strike▮▮▮
Put/Call ratio · today's volume▮▮▮
Put/Call ratio · open interest▮▮▮
0DTE gamma flip▮▮▮
0DTE contracts in chain▮▮▮
Total contracts read▮▮▮

Strongest magnet levels

  • ▮▮▮ ▮▮▮
  • ▮▮▮ ▮▮▮
  • ▮▮▮ ▮▮▮

Strongest accelerant levels

  • ▮▮▮ ▮▮▮
  • ▮▮▮ ▮▮▮
  • ▮▮▮ ▮▮▮

Where does MS stand relative to the gamma flip?

Price 190.34 is below the gamma flip ▮▮▮ by only ▮▮▮%. Positioning is negative and the gap is narrow — the most sensitive of states: a small bounce returns gamma to positive and the market calms abruptly, while a small drop deepens the negative and it accelerates. Direction is undecided; volatility is not. Price is pinned to the put wall at ▮▮▮: this level acts as a floor while positioning holds, and breaking it opens a wider range than its proximity suggests.

Option walls and session range

The largest call cluster sits at ▮▮▮ and the largest put cluster at ▮▮▮. They are 2.63% apart — a normal range: MS tends to stay inside it while positioning holds, because hedging at each wall resists a break through it.

Exposure size and hedging density

Net gamma exposure for MS 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.

Supporting signals

and this reading is built on 532 contracts in the chain.

What the recent history of MS says

Over the last 23 days of tracking (257 archived snapshots), MS stayed above the gamma flip in 36% of readings، and the flip itself moved between ▮▮▮ and ▮▮▮ — a 12.61% 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 (▮▮▮).