Gamma Map free
Where dealer hedging sits today: the flip level, the walls, and the full gamma heat map — with a live price ticking against them. No login, no card.
Live price updates every second (Alpaca IEX). Gamma structure (walls, flip) rebuilds every 5 minutes from CBOE delayed chains — it moves slowly by nature; that's honest, not a bug.
What am I looking at?
When you buy an option, a market maker sells it to you — and they don't gamble on direction. They constantly buy and sell the actual stock to stay neutral, like a bookie balancing both sides. Because that hedging is forced and mechanical, you can map where it will happen. That map is gamma exposure (GEX).
The flip level
Above it, dealer hedging calms the market (they buy dips, sell rips — price gets pinned). Below it, the machine flips and hedging amplifies moves (they sell dips, buy rips — trends and whipsaws). One number, two different markets.
The walls
Strikes where so much hedging piles up that price tends to stall there. In our own six-month backtests, the call wall stopped rallies 5 times out of 6 — while the put wall held less than half the time. We publish that because we tested it; most gamma services won't show you their misses.
The honest data note
This page uses CBOE's free delayed option chains (15 min) rebuilt every 5 minutes, plus a live IEX price feed. Index prices (SPX) are estimated live from their ETF twin — labeled "est." Dealer positioning uses the standard convention (dealers long calls, short puts). It's the same math the paid terminals run — minus the subscription.
Want to know if these levels actually work?
Chartments is the backtester that tells you the truth. Join the Pro list and get our gamma-level backtest results as we publish them.