Bitcoin (BTC) GEX — week of 18–24 May 2026
Gamma flip, P1 and N1 from each daily snapshot (08:00 UTC), all expirations
- Above the flip
- 6 of 7days in positive gamma
- Flip range
- 76,010 – 77,041
- Spot, week
- +0.3%77,108 → 77,362
BTC was above the gamma flip on 6 of 7 days and below it on 1. The flip ranged from 76,010 to 77,041. Spot went from 77,108 to 77,362 (+0.3%) by the next week's first snapshot. The median next-day move was 0.7% after positive-gamma days and 2.9% after negative-gamma days. The largest next-day move, -3.7%, followed the 22 May snapshot (positive gamma).
Daily snapshots
| Snapshot | Spot | Gamma flip | Spot vs flip | P1 | N1 | Regime | Next day |
|---|---|---|---|---|---|---|---|
| 18 May 08:01 UTC | 77,108 | 77,041 | +0.1% | 80,000 | 75,000 | Positive | +0.1% |
| 19 May 08:01 UTC | 77,205 | 76,422 | +1.0% | 80,000 | 75,000 | Positive | +0.1% |
| 20 May 08:01 UTC | 77,280 | 76,341 | +1.2% | 80,000 | 75,000 | Positive | +0.8% |
| 21 May 08:01 UTC | 77,908 | 76,499 | +1.8% | 80,000 | 75,000 | Positive | -0.6% |
| 22 May 08:01 UTC | 77,437 | 76,833 | +0.8% | 80,000 | 75,000 | Positive | -3.7% |
| 23 May 08:01 UTC | 74,607 | 76,010 | -1.9% | 80,000 | 75,000 | Negative | +2.9% |
| 24 May 08:01 UTC | 76,782 | 76,119 | +0.9% | 80,000 | 75,000 | Positive | +0.8% |
"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.