Gamma · by expiry

SymbolSPY
Spot—
Expiries—
As of—
Price & gamma magnets
Gamma magnet by expiry
Dominant-gamma strike per expiry vs spot. Magnet above spot = ↑ pull, below = ↓ pull, for that horizon.
Dealer gamma surface — strike × expiry
Green = long γ (pins/dampens), red = short γ (amplifies). Near-term expiries dominate; far-dated gamma is correctly faint. Spot dashed.
Comparable cross-sections — every expiry, one scale
Every expiry on one shared $γ scale. Each line is green where that expiry is long γ (≥0) and red where short γ (<0) — both shown within one contract; near-term bright → far-dated faint (tenor priority). Spot & zero marked.
Term structure — magnet offset & net γ by expiry
Horizons
Horizon Bias Lean Gamma magnet Conf
Definitions — how to read this
Dealer gamma — options dealers must buy/sell the underlying to stay hedged. Net $gamma per strike measures how much, and where.
Long gamma (positive) — dealers buy dips / sell rips → they CALM the market; price gets pinned toward big-gamma strikes.
Short gamma (negative) — dealers sell dips / buy rips → they AMPLIFY moves; price runs toward the dominant strike.
Magnet — the strike with the most gamma near spot for an expiry; the price hedging pulls toward. Above spot = ↑ pull, below = ↓ pull.
By expiry — the 0DTE expiry governs the next hours, the ~1-week expiry the next week, so each horizon reads its matching date.