The gamma flip is the price level where net dealer gamma crosses zero — the rough boundary between the positive-gamma regime (moves dampened) and the negative-gamma regime (moves amplified).
Above the flip, price action tends to feel pinned and range-bound; below it, moves can accelerate. It's an approximate neighborhood rather than a precise line, but it's a useful read on how a move is likely to feel.
Related terms
- Gamma exposure (GEX) — An estimate of how much dealer hedging is stacked at each price level. Positive = dampened, negative = amplified.
- Gamma wall — A strike with a large pile of dealer gamma. Call walls often act as resistance, put walls as support.
See it in the flow
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