DIA gamma levels

Zero Gamma, Call Wall, Put Wall and Max Gamma of the dealer positioning in SPDR Dow Jones Industrial Average ETF (DIA), computed on the full option chain and refreshed every 5 minutes during the session.

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Yesterday's session, verifiable · 2026-10-02

The session opened with these levels (computed at 09:57 ET, before anything happened) and this is what price did.

Regime at the open: positive gamma

Call Wall515.00

Max Gamma510.00

Zero Gamma511.53

Put Wall510.00

Open 512.57High 513.06Low 508.69Close 511.099 Zero Gamma crosses

09:30 Opened above Zero Gamma (1 pts over)
09:49 Zero Gamma broke
09:52 Zero Gamma reclaimed
10:12 Put Wall touched and held
16:00 Closed 0 pts below Zero Gamma

Today's levels · 2026-10-05

Today's numbers are for subscribers: above you have YESTERDAY's full session so you can check whether the levels work, before paying anything.

Today's levels, refreshed every 5 minutes while the market is open
All 95 symbols, not just the ones on this page
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Alerts when price touches a wall or crosses Zero Gamma

Regime now: negative gamma · amplifying

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Zero Gamma

Where dealers' net gamma flips sign. Above it they dampen (buy dips, sell rips); below it they amplify.

Call Wall

The strike with the most call gamma above spot, within 3% of price: resistance and magnet; likely ceiling of the day's range.

Put Wall

The strike with the most put gamma below spot, within 3% of price: support; likely floor of the day's range.

Max Gamma

The strike with the largest absolute net gamma in the whole chain: the strongest pin, especially into expiration.

Frequently asked questions

What is Zero Gamma?

The price where dealers' net gamma flips sign. Above it they tend to dampen moves (positive gamma); below it they amplify them (negative gamma).

What are the Call Wall and the Put Wall?

The strike with the most call gamma above spot (likely ceiling of the range) and the strike with the most put gamma below (likely floor). Computed from the open interest of the whole chain.

What data are they computed from?

From CBOE's full option chain (~15-minute delayed data), Black-Scholes greeks with each contract's implied volatility and the industry-standard convention: dealers long calls, short puts. Descriptive levels, not investment advice.

Understand the levels

What is Zero Gamma?The price level where the options market stops leaning against moves and starts pushing them. Also called the gamma flip.Call Wall vs Put WallTwo strikes where dealer hedging concentrates: the likely ceiling and the likely floor of the session.Gamma exposure (GEX), explainedHow the hedging of options market makers becomes a force on the index, and how to read the levels that come out of it.How to get GEX levels on TradingViewTradingView charts price. Gamma levels come from the option chain, which Pine cannot read. Here is what that means in practice, and what it takes to get the levels onto your chart.GEX levels for futures: ES, NQ and RTYThe levels are computed on the index option chain and then expressed in futures prices. Here is how that conversion works, and what is different about reading the levels on a futures chart.

Descriptive levels of options positioning, computed from CBOE data ~15 minutes delayed. Not a recommendation or investment advice.