Dealer gamma · ADI
Computed 2026-09-21 after the close from ADI's listed option chain. Nothing here is predicted: these are the strikes where dealer hedging concentrates, recomputed every trading night.
Computed 2026-09-21 22:40 · refreshed nightly
| Night | Spot | Flip | Call wall | Put wall | Net gamma |
|---|---|---|---|---|---|
| 2026-09-21 | 375.72 | 380 | 420 | 350 | +$0.03bn |
| 2026-09-20 | 375.72 | 380 | 420 | 320 | +$0.03bn |
| 2026-09-19 | 375.72 | 380 | 420 | 320 | +$0.03bn |
| 2026-09-18 | 362.65 | 375 | 375 | 372.5 | +$0.06bn |
| 2026-09-17 | 362.04 | 420 | 420 | 357.5 | +$0.02bn |
| 2026-09-16 | 362.04 | 385 | 420 | 350 | +$0.03bn |
| 2026-09-15 | 361.02 | 420 | 420 | 357.5 | +$0.02bn |
| 2026-09-14 | 378.78 | 410 | 420 | 357.5 | +$0.02bn |
| 2026-09-13 |
What a wall is: the strike where dealers' hedging exposure concentrates. Price approaching a large call wall tends to meet hedging flow that leans against the move; losing a put wall can accelerate one. A wall is a level that usually matters — not a promise. Our index levels are graded publicly against every session for exactly that reason.
Where this data goes: this same nightly computation feeds the Intel Clearance morning wire — filings, 13F moves, dark-pool share and these walls on the names you follow, read for you by 07:40. And inside the terminal, the index books recompute through the session as 0DTE flow rebuilds the surface.
| 378.78 |
| 380 |
| 420 |
| 320 |
| +$0.03bn |
| 2026-09-12 | 378.78 | 380 | 420 | 320 | +$0.03bn |
