Bitcoin (BTC) GEX — week of 11–17 May 2026
Gamma flip, P1 and N1 from each daily snapshot (08:00 UTC), all expirations
- Above the flip
- 7 of 7days in positive gamma
- Flip range
- 74,746 – 78,088
- Spot, week
- -4.5%80,764 → 77,108
BTC stayed above the gamma flip on all 7 days of the week: positive gamma, where dealer hedging tends to dampen moves. The flip ranged from 74,746 to 78,088. Spot went from 80,764 to 77,108 (-4.5%) by the next week's first snapshot. The largest next-day move, -2.9%, followed the 15 May snapshot (positive gamma).
Daily snapshots
| Snapshot | Spot | Gamma flip | Spot vs flip | P1 | N1 | Regime | Next day |
|---|---|---|---|---|---|---|---|
| 11 May 08:01 UTC | 80,764 | 74,746 | +7.5% | 82,000 | 60,000 | Positive | +0.2% |
| 12 May 08:01 UTC | 80,899 | 75,102 | +7.2% | 82,000 | 78,000 | Positive | +0.2% |
| 13 May 08:01 UTC | 81,047 | 75,624 | +6.7% | 82,000 | 78,000 | Positive | -1.6% |
| 14 May 08:01 UTC | 79,744 | 77,221 | +3.2% | 82,000 | 78,000 | Positive | +1.3% |
| 15 May 08:01 UTC | 80,743 | 77,823 | +3.6% | 82,000 | 78,000 | Positive | -2.9% |
| 16 May 08:01 UTC | 78,401 | 78,088 | +0.4% | 80,000 | 78,000 | Positive | -0.3% |
| 17 May 08:01 UTC | 78,145 | 77,497 | +0.8% | 80,000 | 78,000 | Positive | -1.3% |
"Spot vs flip": how far spot sat above (+) or below (−) the flip. "Next day": spot change to the next daily snapshot. P1 / N1: the strikes with the largest positive and negative gamma. How the levels are computed: methodology.
BTC gamma exposure today
Today's flip, P1, N1 and max pain are on the BTC GEX page. In the app the levels update every 15 minutes, and the Time Machine replays any past moment.
Open BTC in GammaFlip →Levels as published on each day from that day's options open interest; venue coverage has grown over time. Educational information, not investment advice.