SPX Gamma Levels free Cboe data · ~15 min delayed quotes · OI updated nightly · V11.2
?ES overlay — SPX gamma levels also drive ES (the S&P 500 futures), since both track the same index. The big options open interest that builds these walls lives in SPX, not ES, so this is the right map for ES trades too.
Type the current ES price from your broker and each level (spot, flip, walls, pin) shows its ES equivalent in blue underneath. It works out the basis (ES minus cash SPX) and applies it to every level.
The basis drifts during the day and especially around the quarterly futures roll, so re-enter the ES price fresh each morning rather than assuming a fixed offset. Clear the box to hide the ES lines.
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SPX Spot (delayed)
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Gamma Flip?Gamma Flip is the strike where dealers' cumulative net gamma crosses zero. It splits the two regimes:
Below flip = negative gamma. Dealers sell dips / buy rips, amplifying moves — trend/expansion risk, stand aside or widen.
It's calculated by summing net GEX (calls positive, puts negative) strike-by-strike and finding the zero-crossing nearest spot. If no crossing sits within ±0.75% of spot, there is no meaningful flip near the money and the regime is judged from net gamma around spot instead.
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Call Wall
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Put Wall
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Gamma Pin
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Regime
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Volatility (ATM IV)?ATM Implied Volatility — the average implied vol of options nearest spot, the same thing VIX measures (30-day SPX vol). It tells you how crisp your gamma levels are.
Low (under ~15): expected move is tight, gamma is concentrated, walls are sharp — premium-selling friendly.
Elevated (15–20): levels are softening, moves wider.
High (over ~20): the expected move is wide, walls get "smudged" into fuzzy zones that can be overrun — levels less reliable, be cautious selling premium.
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☐Confirm SPY > VWAP on your chart before entry — this dashboard cannot see VWAP and has not checked it.
?Put Spread Favorable is advisory permission, not an instruction to trade. It turns green only when the gamma backdrop is structurally friendly to a short put spread: spot above the flip, positive-gamma regime, real gamma structure below spot to anchor behind, and no red event or post-expiration thinning. Green is suppressed aggressively — when marginal, it shows the neutral condor state instead. It never appears on an event day or below the flip. The VWAP confirmation is yours to make; the dashboard has no intraday price feed and cannot verify it.