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Gamma Squeeze
Gamma Squeeze ranks stocks where options hedging may amplify an existing move and highlights the prices where that behavior could change.
What Is Gamma Exposure (GEX)?
Options dealers may buy or sell the underlying stock as price changes in order to manage their exposure. Gamma exposure (GEX) is a way to summarize whether that hedging activity is more likely to soften a move or reinforce it.
- Positive gamma (dealer is long gamma): Dealers buy dips and sell rips, stabilizing the market
- Negative gamma (dealer is short gamma): Dealers sell dips and buy rips, amplifying moves — this is the gamma squeeze dynamic
Gamma Screener
The screener ranks stocks from the Smart Flow watchlist by Squeeze Score (0–100), making it easy to compare current squeeze conditions:
Click any row to navigate to the stock detail page where the full per-symbol GEX panel is displayed.
Reading the Squeeze Score
Use the score to rank the watchlist, then inspect the regime and key levels for the symbol. A higher score means several squeeze-related conditions are present at the same time. It does not mean a squeeze is certain, bullish or imminent.
Compare the score over time as well as across symbols. A rising score can be more informative than a single high reading, especially when price is approaching a key level.
Market Strip: SPY Gamma and the Dark Index
Above the screener, a strip reads the market as a whole:
- SPY dealer gamma — SPY's net dealer gamma per 1% move, taken from the screener's own SPY row. Below zero, dealers chase moves; above it, they lean against them.
- S&P 500 dark index — the share of the index's off-exchange volume that was sold short, from FINRA's daily files. Every member's short and reported volume is weighted by its latest close, so the names with the most dollar volume count most. Its 20-day average and its distance from the year's average sit beside it; open it for the daily history.
The dark index updates once a day, after FINRA publishes the session's file (around 6 PM ET).
Per-Symbol GEX Panel
On each stock detail page, the Gamma Exposure Panel shows:
- Bar chart of dealer-positioning estimates at each strike price
- Key levels: Put Wall, Gamma Flip, Call Wall — the three price levels that matter most for dealer hedging
- Squeeze score with regime classification
- Net GEX value
How to Use GEX
- Call Wall: A call-heavy price area that may affect hedging behavior
- Put Wall: A put-heavy price area that may affect hedging behavior
- Gamma Flip: A price where the estimated hedging regime may change
- Negative-gamma regime: A warning that moves in either direction may become less stable
These levels are context, not guaranteed support or resistance.
Data Notes
- GEX estimates use the available options chain and current market inputs
- Options data refreshes at market-hours cadence (5-minute TTL during regular session, cached until next open outside hours)
- OI updates once daily when OCC publishes end-of-day positions
Access
- Free / Basic Plan: Illustrative demo with example data (not real market data)
- Pro Plan: Full live GEX data for the default watchlist and per-symbol panels