A positive gamma day: one direction, one strike, no drama
Net gamma was positive every minute of the session. Watch what that does to a trend.
- SPX open
- 7,516.54
- High
- 7,598.19
- Low
- 7,516.54
- Close
- 7,584.43
- 0DTE net gamma positive
- 100%
- All-expiry net gamma positive
- 100%
- VIX open → close
- 16.34 → 15.20
- VIX high
- 16.34
15:33 ET
09:30 ET
of the session's minutes
of the session's minutes
The positive gamma regime
The story
- 0DTE and all-expiry net gamma positive 100% of minutes. VIX 16.3 to 15.3.
- Open was the low. No pullback deeper than 15 points all day.
- 7600 grew from nothing to +$40B, all calls, with -$36B one strike up: a sold call spread that sized up all afternoon.
- Calls bought +$10M, puts sold -$14M — steady, not urgent.
- Then what: high 7598.19, 1.8 points short of the strike. Positive gamma gave a slow trend and a hard stop.
Minute by minute
The beats
09:30 ET
the open is the low; 0DTE +$4.4B, all-expiry +$8.6B
11:02 ET
0DTE net delta crosses above zero
13:00 ET
7600 at +$7.6B
14:00 ET
7600 at +$25.6B against -$22.5B at 7605
15:33 ET
session high 7598.19 — 1.8 short; 7600 near +$40B
From the product
The dashboard at each beat
Premium Flow, Cumulative Net Delta and Gamma Flow By Strike on one screen, replayed to the minute. Real frames, nothing redrawn. Click the right of the frame to step to the next beat.
Dashboard frame 1 / 5
09:30 ET — The open is the low; 0DTE +$4.4B, all-expiry +$8.6B
More of this session
The short cut
The short cut
8 slides
The case, slide by slide
Slide 1 / 8
These pages describe what the displays show and what the data did on the sessions shown. They are not trading advice, and a past session is not a forecast of a future one.