Gamma Axis · gamma levels S&P 500 & Nasdaq-100 - intraday gamma levels
Key options-positioning levels for the SPX (ES futures) and NDX (NQ futures): gamma walls, GEX magnets, negative-gamma accelerators, the HVL flip and the 1-day cone. Published automatically each session.
New levels go live ~5–10 minutes after the market open, each session.
Session 2026-11-06 · generated Nov 06, 15:33 (Paris)
| ES | SPX | Nature · note |
|---|---|---|
| 8,132 | 8,100 | Call Resistance · Resistance wall |
| 7,482 | 7,453 | 1D Max · 1-day cone |
| 7,480 | 7,450 | Neg Gamma 2 · Accelerator |
| 7,450 | 7,420 | Call Resistance 0DTE · Resistance wall |
| 7,414 | 7,385 | GEX 1 · GEX magnet |
| 7,409 | - | ◂ spot |
| 7,334 | 7,304 | 1D Min · 1-day cone |
| 7,329 | 7,300 | Put Support · Support wall |
| 7,215 | 7,186 | HVL · HVL |
December contract is the active front month; the March contract does not lead on volume yet. No roll today.
Regime
Positive gamma: same-day and all-expiries flow gamma are net positive, with the 7329 put wall and the 7450 same-day call wall. Dealer positioning is net negative: heaviest pocket at the 7329 put wall, others at 7414-7429 just above price and 7480; open-interest gamma is negative across the map.
Scenarios
Range between the walls
Positive flow gamma tends to slow moves between the 7329 put wall and the 7450 same-day call wall; price may rotate around 7409-7414 early in the session.
Invalidation A 5-minute close below 7325 or above 7455.
Extension lower
A move toward 7334-7329 (cone low and put wall) meets the heaviest dealer negative-gamma pocket: the wall may slow the decline, but a break can speed up toward the 7215 gamma flip.
Invalidation A quick reclaim of 7360.
Squeeze higher
Above 7414-7429 the dealer negative-gamma band can accelerate a rebound toward the 7450 call wall, then the 7480-7482 pocket and cone high.
Invalidation A return below 7400.
GO / NO-GO checklist
- ▲Flow gamma positive while dealer positioning and open-interest gamma are net negative
- ▲Heaviest same-day negative strike 7414 at price
- ▲All-expiries call wall at price (less than 0.25% away)
- ▲Consumer sentiment data at 16:00 CET, 30 minutes after the open
- ▲Payrolls released at 14:30 CET, volatility still elevated
- ✓Price about 2.7% above the 7215 gamma flip
- ✓Walls 7329 and 7450 about 1.6% apart
- ✓Expected move about 1.0%, consistent with the walls
Flow
No large opening order at or above 1M in the first minutes. Context only: far out-of-the-money put buying (December 7000 strike) - hedge, not a level; far-dated S&P ETF put selling far below price - neutral for today. No large off-exchange print.
lvl_ES_20261106_1533.csvPrice Level,Note,Foreground Color,Background Color 8132,Call Resistance,yellow,black 7482,1D Max,yellow,black 7480,Neg Gamma 2,yellow,black 7450,Call Resistance 0DTE,yellow,black 7414,GEX 1,yellow,black 7334,1D Min,yellow,black 7329,Put Support,yellow,black 7215,HVL,yellow,black
Price Level,Note,Foreground Color,Background Color 8100,Call Resistance,yellow,black 7453,1D Max,yellow,black 7450,Neg Gamma 2,yellow,black 7420,Call Resistance 0DTE,yellow,black 7385,GEX 1,yellow,black 7304,1D Min,yellow,black 7300,Put Support,yellow,black 7186,HVL,yellow,black
Save as .csv for the Jigsaw platform, or paste into the TradingView indicator (open the indicator).
Session 2026-11-06 · generated Nov 06, 15:37 (Paris)
| NQ | NDX | Nature · note |
|---|---|---|
| 29,811 | 29,675 | Call Resistance · Resistance wall |
| 27,395 | 27,270 | EM High · Other |
| 27,325 | 27,200 | Neg Gamma 2 · Accelerator |
| 27,224 | 27,100 | GEX 2 · GEX magnet |
| 27,158 | - | ◂ spot |
| 27,154 | 27,030 | Call Resistance 0DTE · Resistance wall |
| 27,151 | 27,026 | HVL · HVL |
| 27,084 | 26,960 | Neg Gamma 0DTE · Accelerator |
| 27,081 | 26,957 | HVL 0DTE · HVL |
| 26,963 | 26,840 | Put Support 0DTE · Support wall |
| 26,722 | 26,600 | Put Support · Support wall |
| 26,109 | 25,990 | EM Low · Other |
December contract is the active front month; the March contract does not lead on volume yet. No roll today.
Regime
Negative gamma: all-expiries flow gamma and open-interest gamma are negative around price, which sits on the 27151 gamma flip. Same-day flow gamma is positive between the 26963 put wall and the 27154 call wall; pockets at 27084 and 27325.
Scenarios
Pinned at the flip
Price may chop around 27151-27154 (gamma flip and same-day call wall) while the regime is undecided; moves can be fast both ways.
Invalidation A 5-minute close below 27081 or above 27224.
Extension lower
Below 27081-27084 (same-day flip and negative-gamma pocket), negative gamma may speed a move toward the 26963 put wall, then 26722.
Invalidation A reclaim of 27151.
Extension higher
Above 27224 the 27325 negative-gamma pocket can accelerate a move toward the 27395 expected-move high.
Invalidation A return below 27154.
GO / NO-GO checklist
- ✕Price within 0.15% of the 27151 gamma flip
- ▲Same-day flow gamma positive, all-expiries and open-interest gamma negative
- ▲S&P verdict is CAUTION
- ▲Opening flow mixed: call buying and put buying near price
- ▲Same-day walls are small (call wall about 12.5M)
- ▲Consumer sentiment data at 16:00 CET
- ✓Expected move about 2.4%, consistent with the walls
- ✓No megacap earnings tonight
Flow
Opening call buying at 27044 and 27209 - upside pressure toward and above the 27154 call wall. Opening put buying at 27168 and 26961 - hedging at the same-day put wall 26963, confirms it as a reference. Deep in-the-money call activity far below price - not a level. Mixed opening flow, no dominant side.
lvl_NQ_20261106_1537.csvPrice Level,Note,Foreground Color,Background Color 29811,Call Resistance,yellow,black 27395,EM High,yellow,black 27325,Neg Gamma 2,yellow,black 27224,GEX 2,yellow,black 27154,Call Resistance 0DTE,yellow,black 27151,HVL,yellow,black 27084,Neg Gamma 0DTE,yellow,black 27081,HVL 0DTE,yellow,black 26963,Put Support 0DTE,yellow,black 26722,Put Support,yellow,black 26109,EM Low,yellow,black
Price Level,Note,Foreground Color,Background Color 29675,Call Resistance,yellow,black 27270,EM High,yellow,black 27200,Neg Gamma 2,yellow,black 27100,GEX 2,yellow,black 27030,Call Resistance 0DTE,yellow,black 27026,HVL,yellow,black 26960,Neg Gamma 0DTE,yellow,black 26957,HVL 0DTE,yellow,black 26840,Put Support 0DTE,yellow,black 26600,Put Support,yellow,black 25990,EM Low,yellow,black
Save as .csv for the Jigsaw platform, or paste into the TradingView indicator (open the indicator).
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Level nature legend
How these levels are built
- Computed each session from live options-positioning data - dealer gamma exposure, open interest and intraday order flow - aggregated, not hand-drawn.
- Recomputed intraday and published automatically within ~60 seconds of each run.
- Every level is typed to a specific mechanism: resistance / support gamma walls, GEX magnets, negative-gamma accelerators, the HVL flip and the 1-day expected-move cone.
- A structural, statistical map of positioning - not price predictions. Not investment advice.