GAMMA EXPOSURE · Dealer positioning

NOW Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded NOW 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.

141.26$ Positive gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـNOW متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

140.00$ Spot right now 150.00$

Gamma on other symbols

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

Options chain around NOW price

NOW · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
136.00	1,229	1,464	323	Put
137.00	924	763	354	Call
138.00	561	878	1,073	Put
139.00	592	591	1,047	Call
140.00	11,535	6,850	2,488	Call
141.00	794	1,357	1,700	Put
142.00	1,142	835	858	Call
143.00	568	446	1,292	Call
144.00	1,968	1,170	675	Call
145.00	8,162	1,724	2,073	Call
146.00	512	319	310	Call
147.00	633	83	943	Call

How the levels moved over the last 3 days

NOW archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-10	126.98	108.24	130.00	120.00
2026-08-11	127.32	109.51	130.00	120.00
2026-08-12	124.57	110.73	130.00	120.00

NOW numeric indicators.
Metric	Value
Max pain strike	135.00
Put/Call ratio · today's volume	1.17
Put/Call ratio · open interest	0.85
0DTE gamma flip	137.32
0DTE contracts in chain	156
Total contracts read	824

Strongest magnet levels

150.00 ⁦7.23⁩ مليون
145.00 ⁦3.37⁩ مليون
140.00 ⁦2.75⁩ مليون

Strongest accelerant levels

141.00 −516,680
115.00 −504,848
128.00 −301,868

Where does NOW stand relative to the gamma flip?

السعرُ 141.26 يعلو نقطةَ الانقلاب 120.67 بفارق 17.06٪، 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 17.1٪، أي أنّه ليس سيناريو الجلسة الأقرب. Price is pinned to the put wall at 140.00: 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

أكبرُ تجمّعٍ لعقود الشراء عند 150.00 (6.19% from price)، ولعقود البيع عند 140.00 (-0.89% from price)، والمسافةُ بينهما 7.14٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine NOW during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـNOW يبلغ ⁦26.69⁩ مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 188,908 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 824 contracts in the chain.

What the recent history of NOW says

Over the last 27 days of tracking (298 archived snapshots), NOW stayed above the gamma flip in 89% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 106.18 و139.40، أي بنطاق 31.29٪، 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 (⁦34.8⁩ مليون).