Updated every 15 minutes
SPX gamma levels today
SPX sits between the put wall at 7580 and the call wall at 7650, below zero gamma at 7602 — dealer hedging amplifies moves here.
Session 2026-09-15 · 15:59:00 ET
Call wall
7650
Most call-side gamma — resistance and magnet above price.
Put wall
7580
Most put-side gamma — support below price.
Zero gamma
7602
Where net dealer gamma flips sign — the regime boundary.
Max pain
7645
Strike minimising total option payout at expiry.
Spot 7584.12 · net GEX -19.76B per 1% move
Free plan, no card. The four numbers above are the headline; the strike ladder, 90-day history and session replay are in the product.
Questions
- Where do these SPX levels come from?
- From the live SPXW 0DTE option chain. GammaTape computes Black-Scholes gamma per strike, weights it by open interest, and takes the call-side and put-side peaks as the walls; zero gamma is where the running sum of signed GEX crosses zero. The engine recomputes the whole payload every 3 seconds during the session.
- How often does this page update?
- Every 15 minutes. The dashboard updates every 3 seconds — this page is a snapshot of the same engine, published without an account.
- What do I do with the call wall and the put wall?
- They are where dealers hold the most gamma, so hedging concentrates there: above zero gamma the walls tend to act as magnets and boundaries, below it moves accelerate through them. They are context for entries, targets and risk, not a signal.
- Why is SPX relevant if I trade ES?
- ES tracks the S&P 500, the index SPX options are written on. The same levels apply after a basis shift — see the ES page for them already converted.
Market analytics, not investment advice. See the docs for how each level is built, or the GEX calculator for the arithmetic behind one strike.