GAMMA EXPOSURE · Dealer positioning

DVN Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded DVN 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.

48.06$ Positive gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـDVN متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

47.50$ Spot right now 50.00$

Gamma on other symbols

SPX SPY QQQ DIA IWM AAPL MSFT GOOGL AMZN NVDA META TSLA All symbols

Options chain around DVN price

DVN · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
45.00	15,785	10,872	155	Call
45.50	14	102	155	Put
46.00	1,160	697	191	Call
46.50	17	75	191	Put
47.00	3,372	1,387	37,090	Call
47.50	70,607	10,151	37,090	Call
48.00	866	523	773	Call
48.50	154	127	773	Call
49.00	2,536	74	104	Call
49.50	1,458	35	104	Call
50.00	14,996	4,652	797	Call
51.00	1,503	69	185	Call

How the levels moved over the last 3 days

DVN archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-10	45.31	39.82	47.50	45.00
2026-08-11	45.48	39.88	47.50	45.00
2026-08-12	44.94	40.41	47.50	42.50

DVN numeric indicators.
Metric	Value
Max pain strike	45.00
Put/Call ratio · today's volume	0.27
Put/Call ratio · open interest	0.40
0DTE gamma flip	44.21
0DTE contracts in chain	72
Total contracts read	372

Strongest magnet levels

47.50 ⁦18.58⁩ مليون
50.00 ⁦2.42⁩ مليون
55.00 ⁦1.01⁩ مليون

Strongest accelerant levels

40.00 −542,270
42.50 −242,001
37.50 −55,250

Where does DVN stand relative to the gamma flip?

السعرُ 48.0600 يعلو نقطةَ الانقلاب 41.8400 بفارق 14.87٪، مسافةٌ مريحة. Positioning is clearly positive: dealer hedging buys dips and sells rallies, so price tends to grind within a range rather than jump. Flipping this state يحتاج هبوطاً يتجاوز 14.9٪، أي أنّه ليس سيناريو الجلسة الأقرب. Price is inside the range between 47.5000 and 50.0000, closer to Put wall of the two.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 50.0000 (4.04% from price)، ولعقود البيع عند 47.5000 (-1.17% from price)، والمسافةُ بينهما 5.26٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine DVN during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـDVN يبلغ ⁦24.83⁩ مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 516,742 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 372 contracts in the chain.

What the recent history of DVN says

Over the last 27 days of tracking (292 archived snapshots), DVN stayed above the gamma flip in 52% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 39.2700 و41.9200، أي بنطاق 6.75٪، وهو ما يعني أنّ the level moves with the market and does not serve as a fixed reference across days، and net exposure today is above the period average (⁦19.97⁩ مليون).