Dealer gamma · CIEN
Computed 2026-09-21 after the close from CIEN's listed option chain. Nothing here is predicted: these are the strikes where dealer hedging concentrates, recomputed every trading night.
Computed 2026-09-21 23:12 · refreshed nightly
| Night | Spot | Flip | Call wall | Put wall | Net gamma |
|---|---|---|---|---|---|
| 2026-09-21 | 348.8 | 450 | 400 | 330 | +$0.00bn |
| 2026-09-20 | 348.8 | — | 400 | 330 | -$0.00bn |
| 2026-09-19 | 348.8 | — | 400 | 330 | -$0.00bn |
| 2026-09-18 | 344.25 | 350 | 350 | 330 | +$0.03bn |
| 2026-09-17 | 340.5 | 350 | 350 | 330 | +$0.02bn |
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.
