GAMMA EXPOSURE · Dealer positioning

MARA Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded MARA 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.

11.31$ Positive gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـMARA متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

10.00$ Spot right now 12.00$

Gamma on other symbols

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

Options chain around MARA price

MARA · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
10.00	17,199	44,357	6,169	Put
10.50	4,112	9,755	6,169	Put
11.00	27,752	14,894	49,373	Call
11.50	6,647	4,546	49,373	Call
12.00	42,140	11,483	8,824	Call
12.50	9,526	521	8,824	Call

How the levels moved over the last 5 days

MARA archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-06	10.80	10.66	12.00	10.50
2026-08-07	9.92	10.69	10.00	9.50
2026-08-10	9.49	9.41	10.50	9.00
2026-08-11	9.74	9.44	10.50	9.00
2026-08-12	9.68	9.57	10.50	9.50

MARA numeric indicators.
Metric	Value
Max pain strike	11.00
Put/Call ratio · today's volume	0.53
Put/Call ratio · open interest	0.64
0DTE gamma flip	10.46
0DTE contracts in chain	66
Total contracts read	392

Strongest magnet levels

12.00 928,227
13.00 820,109
11.00 426,978

Strongest accelerant levels

10.00 −546,182
9.00 −343,108
9.50 −247,031

Where does MARA stand relative to the gamma flip?

السعرُ 11.3100 يعلو نقطةَ الانقلاب 10.5000 بفارق 7.71٪، 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 7.7٪، أي أنّه ليس سيناريو الجلسة الأقرب. Price is inside the range between 10.0000 and 12.0000, closer to Call wall of the two.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 12.0000 (6.10% from price)، ولعقود البيع عند 10.0000 (-11.58% from price)، والمسافةُ بينهما 20.00٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine MARA during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـMARA يبلغ ⁦2.18⁩ مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 192,801 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 392 contracts in the chain.

What the recent history of MARA says

Over the last 27 days of tracking (298 archived snapshots), MARA stayed above the gamma flip in 62% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 8.8000 و11.3000، أي بنطاق 28.41٪، 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 below the period average (⁦2.82⁩ مليون).