GAMMA EXPOSURE · Dealer positioning

NKE Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded NKE 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.

38.40$ Negative gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـNKE متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

37.50$ Spot right now 40.00$

Gamma on other symbols

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

Options chain around NKE price

NKE · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
35.50	100	760	61	Put
36.00	398	8,640	204	Put
36.50	40	258	204	Put
37.00	340	8,174	3,903	Put
37.50	3,578	34,950	3,903	Put
38.00	2,620	9,724	7,835	Put
38.50	3,913	4,745	7,835	Put
39.00	11,096	7,213	4,044	Call
39.50	4,290	2,190	4,044	Call
40.00	39,872	55,816	525	Put
40.50	1,577	1,163	525	Call
41.00	17,695	1,458	881	Call

How the levels moved over the last 3 days

NKE archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-10	42.09	42.68	45.00	40.00
2026-08-11	41.30	42.48	45.00	40.00
2026-08-12	40.69	42.33	45.00	40.00

NKE numeric indicators.
Metric	Value
Max pain strike	40.00
Put/Call ratio · today's volume	0.39
Put/Call ratio · open interest	0.61
0DTE gamma flip	38.35
0DTE contracts in chain	82
Total contracts read	416

Strongest magnet levels

45.00 ⁦2.39⁩ مليون
41.00 ⁦2.35⁩ مليون
42.50 ⁦2.03⁩ مليون

Strongest accelerant levels

37.50 ⁦−6.07⁩ مليون
40.00 ⁦−3.98⁩ مليون
35.00 ⁦−2.37⁩ مليون

Where does NKE stand relative to the gamma flip?

Price 38.4000 is under the gamma flip 39.2800 by 2.24%. 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 37.5000 and 40.0000, closer to Put wall of the two.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 40.0000 (4.17% from price)، ولعقود البيع عند 37.5000 (-2.34% from price)، والمسافةُ بينهما 6.67٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine NKE during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـNKE يبلغ ⁦−7.3⁩ مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 190,026 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 416 contracts in the chain.

What the recent history of NKE says

Over the last 27 days of tracking (298 archived snapshots), NKE stayed above the gamma flip in 0% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 38.6400 و42.8100، أي بنطاق 10.79٪، 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 (⁦−23.36⁩ مليون).