Dealer gamma · ZTO
Computed 2026-10-14 after the close from ZTO's listed option chain. Nothing here is predicted: these are the strikes where dealer hedging concentrates, recomputed every trading night.
Computed 2026-10-14 23:13 · refreshed nightly
| Night | Spot | Flip | Call wall | Put wall | Net gamma |
|---|---|---|---|---|---|
| 2026-10-14 | 20.67 | 22 | 22 | 15 | +$0.00bn |
| 2026-10-13 | 20.45 | 22 | 22 | 15 | +$0.00bn |
| 2026-10-12 | 20.45 | 22 | 22 | 15 | +$0.00bn |
| 2026-10-11 | 20.15 | 22 | 22 | 15 | +$0.00bn |
| 2026-10-10 | 20.15 | 22 | 22 | 15 | +$0.00bn |
| 2026-10-08 | 19.8 | 25 | 22 | 15 | +$0.00bn |
| 2026-10-07 | 19.68 | — | 22 | 15 | -$0.00bn |
| 2026-10-06 | 19.68 | 13 | 22 | 15 | -$0.00bn |
| 2026-10-05 |
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.
| 19.7 |
| 13 |
| 22 |
| 15 |
| -$0.00bn |
| 2026-10-04 | 19.5 | 13 | 22 | 15 | -$0.00bn |
