Bitcoin (BTC) GEX — week of 20–26 Jul 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
- 61,873 – 63,487
- Spot, week
- +1.5%64,239 → 65,213
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 61,873 to 63,487. Spot went from 64,239 to 65,213 (+1.5%) by the next week's first snapshot. The largest next-day move, +3.1%, followed the 20 Jul snapshot (positive gamma).
Daily snapshots
| Snapshot | Spot | Gamma flip | Spot vs flip | P1 | N1 | Regime | Next day |
|---|---|---|---|---|---|---|---|
| 20 Jul 08:06 UTC | 64,239 | 61,873 | +3.7% | 70,000 | 60,000 | Positive | +3.1% |
| 21 Jul 07:56 UTC | 66,204 | 63,487 | +4.1% | 70,000 | 60,000 | Positive | -0.5% |
| 22 Jul 07:58 UTC | 65,844 | 62,223 | +5.5% | 70,000 | 60,000 | Positive | -0.6% |
| 23 Jul 08:01 UTC | 65,449 | 62,278 | +4.8% | 70,000 | 60,000 | Positive | +0.0% |
| 24 Jul 08:08 UTC | 65,451 | 62,291 | +4.8% | 70,000 | 60,000 | Positive | -2.2% |
| 25 Jul 07:59 UTC | 64,031 | 63,478 | +0.9% | 70,000 | 64,000 | Positive | +0.5% |
| 26 Jul 08:02 UTC | 64,360 | 62,758 | +2.5% | 70,000 | 60,000 | 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.