GAMMA EXPOSURE · Dealer positioning

SMR Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded SMR 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.

9.70$ Positive gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـSMR متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

9.00$ Spot right now 10.00$

Gamma on other symbols

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

Options chain around SMR price

SMR · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
9.00	5,715	6,696	4,572	Put
9.50	4,043	1,744	4,572	Call
10.00	16,809	2,917	2,272	Call
10.50	4,836	1,114	2,272	Call

How the levels moved over the last 3 days

SMR archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-10	9.25	8.92	10.00	9.00
2026-08-11	9.82	9.16	10.00	9.00
2026-08-12	9.61	9.15	10.00	9.00

SMR numeric indicators.
Metric	Value
Max pain strike	9.50
Put/Call ratio · today's volume	0.74
Put/Call ratio · open interest	0.60
0DTE gamma flip	8.72
0DTE contracts in chain	58
Total contracts read	314

Strongest magnet levels

10.00 325,733
12.00 190,444
10.50 93,781

Strongest accelerant levels

11.00 −104,108
8.00 −40,785
8.50 −19,589

Where does SMR stand relative to the gamma flip?

السعرُ 9.7000 يعلو نقطةَ الانقلاب 8.5400 بفارق 13.58٪، 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 13.6٪، أي أنّه ليس سيناريو الجلسة الأقرب. Price is inside the range between 9.0000 and 10.0000, closer to Call wall of the two.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 10.0000 (3.09% from price)، ولعقود البيع عند 9.0000 (-7.22% from price)، والمسافةُ بينهما 11.11٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine SMR during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـSMR يبلغ 564,248، وهو حجمٌ محدود. Hedging for a 1% move is about 58,170 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 314 contracts in the chain.

What the recent history of SMR says

Over the last 27 days of tracking (297 archived snapshots), SMR stayed above the gamma flip in 83% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 8.1900 و9.4500، أي بنطاق 15.38٪، وهو ما يعني أنّ the level moves with the market and does not serve as a fixed reference across days.