Reading the market regime before prices move

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After hours
GAMMA EXPOSURE · Dealer positioning

NVDA Gamma Exposure Today: Positioning Walls and the Flip

Every number here is computed from the traded NVDA 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.

$221.88 Positive gamma Last update:
Exchange pricing · 20:00 UTC · Closing price

The short answer

Where is the NVDA gamma flip today?
At $214.33, with price $221.88 above it by 3.52%, and gamma is positive.
Where are the NVDA call wall and put wall?
The call wall is at $222.50 and the put wall at $220.00, 1.14% apart.
What does NVDA gamma positioning mean for the session?
Gamma is positive: dealer hedging tends to sell rallies and buy dips, so price tends to stay calmer inside the range. A positioning read, not advice. Track them against price, minute by minute, on the interactive gamma board. Open the interactive NVDA board →

Computed

Today's context around NVDA $221.88

Exchange pricing · 20:00 UTC · Closing price
Index regime
SPY gamma positive · price 0.40% above the flipSPY options chain · Finviro engine · 20:01 UTC · Calculation snapshot
Ticker flow today
Net premium today $+8.65M · call premium is larger (6 high-impact contracts)
Its structure
Positive gamma · flip $214.33 · Call Wall $222.50 · Put Wall $220.00 Net gamma $833.81M · market-maker hedging of about 3.76M shares per 1% move NVDA options chain · Finviro engine · 20:02 UTC · Calculation snapshot
Net premium on its options today
Net premium from $+10.74M (13:31 UTC) to $+98.5M (19:51 UTC) · calls $179.49M vs protection $80.99M · 14 readings on the line The line runs from the session start (left) to the latest reading (right), like the time axis in the platform's charts: above the gray line, premium paid for calls exceeds protection premium; below it, the reverse. A rising line means money is moving into calls. Options flow · Finviro engine · 19:51 UTC · Calculation snapshot
Operating constraint
Inside the buyback blackout window until Nov 19, 2026 · earnings Nov 17, 2026
Risk
Size the trade with a stop at the Put Wall $220.00 (−0.85% from price) and a target at the Call Wall The same levels above carry into the position-size calculator with the symbol's implied volatility · the decision is yours.

A description of conditions, not a recommendation · the same numbers in the ticker bar, the map and the gamma station ·

Call wall $222.50 +0.28%
Put wall $220.00 -0.85%
Gamma flip $214.33 +3.40%
$220.00 Spot right now $222.50

Gamma on other symbols

Options chain around NVDA price

NVDA · open interest at each strike.
Strike Calls Puts Today's volume Skew
207.50 3,251 20,552 28,702 Put
210.00 84,663 73,809 45,467 Call
212.50 4,548 24,272 36,670 Put
215.00 33,777 67,953 100,816 Put
217.50 26,420 22,510 241,635 Call
220.00 121,537 61,336 629,992 Call
222.50 72,815 6,986 509,446 Call
225.00 92,677 38,970 264,272 Call
227.50 65,844 4,150 66,139 Call
230.00 206,014 29,275 93,495 Call
232.50 22,409 2,402 30,445 Call
235.00 57,056 15,377 33,648 Call

How the levels moved at each session close

Session closes from to

NVDA archive · each session's close.
Day Price Gamma flip Call wall Put wall
2026-10-15 217.28 218.46 220.00 215.00
2026-10-16 214.44 217.95 215.00 212.50
2026-10-19 217.26 213.82 217.50 215.00
2026-10-20 216.37 212.95 220.00 215.00
2026-10-21 221.63 214.21 222.50 220.00
NVDA numeric indicators.
MetricValue
Max pain strike217.50
Put/Call ratio · today's volume0.59
Put/Call ratio · open interest0.81
Implied volatility rank54%
0DTE gamma flip213.26
0DTE contracts in chain106
Total contracts read780

Strongest magnet levels

  • 222.50 314.62M
  • 220.00 295.55M
  • 227.50 94.71M

Strongest accelerant levels

  • 210.00 −26.9M
  • 215.00 −22.08M
  • 212.50 −15.53M

Where does NVDA stand relative to the gamma flip?

Price 221.88 sits above the gamma flip 214.33 by 3.52% — a comfortable margin. 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 would require a drop beyond 3.5% — so it is not the nearest session scenario. Price is inside the range between 220.00 and 222.50, closer to Call wall of the two.

Option walls and session range

The largest call cluster sits at 222.50 (0.28% from price) and the largest put cluster at 220.00 (-0.85% from price). They are 1.14% apart — a normal range: NVDA tends to stay inside it while positioning holds, because hedging at each wall resists a break through it.

Exposure size and hedging density

Net gamma exposure for NVDA is 833.81M — a considerable size that keeps hedging clearly present without governing the move on its own. A 1% move calls for about 3.76M shares of hedging. So read the levels below alongside volume, not in isolation from it.

Supporting signals

and this reading is built on 780 contracts in the chain.

What the recent history of NVDA says

Over the last 22 days of tracking (1,493 archived snapshots), NVDA stayed above the gamma flip in 91% of readings, and the flip itself moved between 210.48 and 246.35, a 17.04% range, which means 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 (675.69M).