GAMMA EXPOSURE · Dealer positioning

NVDA Gamma 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.

230.36$ Positive gamma Refreshed every five minutes during the US session (UTC)

Call wall 240.00$ +4.18%

Put wall 220.00$ -4.50%

Gamma flip 210.89$ +8.45%

220.00$ Spot right now 240.00$

Gamma on other symbols

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Options chain around NVDA price

NVDA · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
217.50	4,937	12,937	14,264	Put
220.00	68,761	47,822	73,980	Call
222.50	7,069	7,334	25,806	Put
225.00	76,589	25,395	59,842	Call
227.50	38,723	12,102	48,027	Call
230.00	133,184	17,934	166,375	Call
232.50	39,744	981	138,554	Call
235.00	96,294	5,028	196,496	Call
237.50	26,815	569	85,371	Call
240.00	160,670	3,061	163,969	Call
242.50	11,614	73	29,531	Call
245.00	68,928	1,128	53,455	Call

How the levels moved over the last 5 days

NVDA archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-06	219.96	196.14	220.00	215.00
2026-08-07	223.00	201.73	225.00	222.50
2026-08-10	219.10	206.42	220.00	215.00
2026-08-11	218.13	209.54	220.00	215.00
2026-08-12	222.49	210.42	225.00	220.00

NVDA numeric indicators.
Metric	Value
Max pain strike	217.50
Put/Call ratio · today's volume	0.60
Put/Call ratio · open interest	0.74
0DTE gamma flip	220.91
0DTE contracts in chain	126
Total contracts read	712

Strongest magnet levels

230.00 ⁦220.61⁩ مليون
240.00 ⁦196.24⁩ مليون
235.00 ⁦152.21⁩ مليون

Strongest accelerant levels

217.50 ⁦−7.12⁩ مليون
212.50 ⁦−5.52⁩ مليون
200.00 ⁦−4.33⁩ مليون

Where does NVDA stand relative to the gamma flip?

السعرُ 230.36 يعلو نقطةَ الانقلاب 210.89 بفارق 9.23٪، 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 9.2٪، أي أنّه ليس سيناريو الجلسة الأقرب. والسعرُ في منتصف المسافة بين الجدارين (220.00 و240.00)، أبعدُ نقطةٍ عن either, and the position that calls for the least flow-driving hedging.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 240.00 (4.18% from price)، ولعقود البيع عند 220.00 (-4.50% from price)، والمسافةُ بينهما 9.09٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine NVDA during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـNVDA يبلغ ⁦1⁩ مليار، حجمٌ معتبَرٌ يُبقي للتحوّط أثراً clearly present without governing the move on its own. A 1% move calls for about ⁦4.36⁩ مليون shares of hedging. So read the levels below alongside volume, not in isolation from it.

Supporting signals

and this reading is built on 712 contracts in the chain.

What the recent history of NVDA says

Over the last 27 days of tracking (1,640 archived snapshots), NVDA stayed above the gamma flip in 100% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 200.39 و216.59، أي بنطاق 8.08٪، 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 (⁦897.65⁩ مليون).