Reading the market regime before prices move
Every number here is computed from the traded INTC 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.
| Strike | Calls | Puts | Today's volume | Skew |
|---|---|---|---|---|
| 91.00 | 5,256 | 2,544 | 4,832 | Call |
| 92.00 | 11,918 | 3,043 | 1,960 | Call |
| 92.50 | 5,477 | 6,554 | 1,960 | Put |
| 93.00 | 5,010 | 1,389 | 9,011 | Call |
| 94.00 | 6,887 | 561 | 11,440 | Call |
| 95.00 | 65,774 | 32,083 | 53,277 | Call |
| 96.00 | 3,442 | 1,121 | 11,577 | Call |
| 97.00 | 4,024 | 819 | 624 | Call |
| 97.50 | 7,687 | 4,391 | 624 | Call |
| 98.00 | 5,037 | 707 | 9,013 | Call |
| 99.00 | 1,815 | 338 | 7,238 | Call |
| 100.00 | 74,037 | 18,437 | 59,087 | Call |
| Day | Price | Gamma flip | Call wall | Put wall |
|---|---|---|---|---|
| 2026-08-10 | 98.95 | 95.71 | 100.00 | 95.00 |
| 2026-08-11 | 97.64 | 95.37 | 100.00 | 95.00 |
| 2026-08-12 | 101.36 | 95.00 | 102.00 | 100.00 |
| Metric | Value |
|---|---|
| Max pain strike | 93.00 |
| Put/Call ratio · today's volume | 0.40 |
| Put/Call ratio · open interest | 0.89 |
| 0DTE gamma flip | 88.13 |
| 0DTE contracts in chain | 130 |
| Total contracts read | 664 |
السعرُ 95.8000 يعلو نقطةَ الانقلاب 87.6800 بفارق 9.26٪، 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 9.3٪، أي أنّه ليس سيناريو الجلسة الأقرب. Price is inside the range between 95.0000 and 100.00, closer to Put wall of the two.
أكبرُ تجمّعٍ لعقود الشراء عند 100.00 (4.38% from price)، ولعقود البيع عند 95.0000 (-0.84% 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 INTC during the session, so flow leads rather than hedging.
صافي تعرّض الغاما لـINTC يبلغ 57.34 مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 598,523 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 664 contracts in the chain.
Over the last 27 days of tracking (298 archived snapshots), INTC stayed above the gamma flip in 75% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 85.9300 و99.5500، أي بنطاق 15.85٪، 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 (32.68 مليون).