Dealer gamma · JPM
Computed 2026-10-14 after the close from JPM's listed option chain. Nothing here is predicted: these are the strikes where dealer hedging concentrates, recomputed every trading night.
Computed 2026-10-14 21:44 · refreshed nightly
| Night | Spot | Flip | Call wall | Put wall | Net gamma |
|---|---|---|---|---|---|
| 2026-10-14 | 331.43 | 360 | 345 | 330 | +$0.05bn |
| 2026-10-13 | 334.3 | 390 | 345 | 320 | +$0.02bn |
| 2026-10-11 | 332.99 | 370 | 350 | 320 | +$0.04bn |
| 2026-10-10 | 332.99 | 370 | 350 | 320 | +$0.04bn |
| 2026-10-08 | 329.58 | 345 | 335 | 325 | +$0.09bn |
| 2026-10-07 | 331.28 | 380 | 332.5 | 320 | +$0.02bn |
| 2026-10-06 | 331.28 | 365 | 332.5 | 320 | +$0.04bn |
| 2026-10-05 | 332.38 | 360 | 332.5 | 320 | +$0.05bn |
| 2026-10-04 |
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.
| 332.38 |
| 365 |
| 332.5 |
| 320 |
| +$0.04bn |
| 2026-10-03 | 332.38 | 365 | 332.5 | 320 | +$0.04bn |
