Pin Levels

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Options market GEX calculations

Pin Levels publishes free daily gamma exposure (GEX) levels for SPX and varous companies, before the open.

  • Gamma flip — the price where dealer net gamma crosses zero. Above it, hedging has tended to dampen moves; below it, to amplify them.
  • Call wall — the strike with the largest positive gamma, often watched as resistance.
  • Put wall — the strike with the largest negative gamma, often watched as support.

How gamma exposure works

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