Hyperliquid (HYPE) GEX Today — Gamma Flip & Key Levels
Daily snapshot · 21 Sep 2026, 08:00 UTC · all expirations
- Spot
- 94.20
- Gamma flip
- 87.537.1% below spot
- Regime
- Positive gamma
- Positive peak (P1)
- 100.00
- Negative peak (N1)
- 76.00
- Max pain
- 76.0025 Sep 2026 expiry
- Net GEX
- +357.5K
HYPE is in positive gamma: the gamma flip at 87.53 is 7.1% below spot (94.20). Above the flip, dealers are long gamma and tend to dampen moves. The top positive gamma peak (P1) is at 100.00 (+6.2% from spot), where dealer hedging tends to stabilize price. The top negative gamma peak (N1) is at 76.00 (-19.3% from spot), a volatility trigger rather than support. The flip moved +2.1% since the previous snapshot (85.69 → 87.53).
HYPE GEX levels — last 14 snapshots
| Snapshot | Spot | Gamma flip | P1 | N1 | Regime |
|---|---|---|---|---|---|
| 21 Sep 07:57 UTC | 94.20 | 87.53 | 100.00 | 76.00 | Positive |
| 20 Sep 08:01 UTC | 91.18 | 85.69 | 100.00 | 76.00 | Positive |
| 19 Sep 08:04 UTC | 92.99 | 86.41 | 100.00 | 76.00 | Positive |
| 18 Sep 08:02 UTC | 88.20 | 83.33 | 100.00 | 76.00 | Positive |
| 17 Sep 08:03 UTC | 79.71 | 79.86 | 82.00 | 76.00 | Negative |
| 16 Sep 08:07 UTC | 77.28 | 80.27 | 100.00 | 76.00 | Negative |
| 15 Sep 08:05 UTC | 78.69 | 80.14 | 100.00 | 76.00 | Negative |
| 14 Sep 08:08 UTC | 79.84 | 80.39 | 100.00 | 76.00 | Negative |
| 13 Sep 07:57 UTC | 78.55 | 79.82 | 100.00 | 76.00 | Negative |
| 12 Sep 08:00 UTC | 79.03 | 80.36 | 100.00 | 76.00 | Negative |
| 11 Sep 08:00 UTC | 79.87 | 82.57 | 100.00 | 76.00 | Negative |
| 10 Sep 08:00 UTC | 83.29 | 84.80 | 100.00 | 76.00 | Negative |
| 9 Sep 08:02 UTC | 86.96 | 84.89 | 100.00 | 76.00 | Positive |
| 8 Sep 08:08 UTC | 83.97 | 85.30 | 100.00 | 76.00 | Negative |
See HYPE gamma exposure live
- Updates every 15 minutes, not once a day
- Per-expiration breakdown, including 0DTE
- Full interactive GEX heatmap and history
- Monte Carlo price paths
About Hyperliquid (HYPE) options GEX
HYPE is the token of Hyperliquid, and its options market is younger than those of bitcoin and ether. GammaFlip does not include OKX in the HYPE profile, and in a young market open interest can change a lot from one month to the next as participation grows.
The profile below sums every listed HYPE expiration into one gamma exposure chart and marks:
- the gamma flip, dividing a dealer-dampened zone from a dealer-amplified one;
- P1 and P2, where long dealer gamma is largest;
- N1 and N2, where short dealer gamma is largest.
Read HYPE levels as early signals, not settled structure. In a developing market, the ranking of peaks can reshuffle overnight, and a flip computed from light open interest may sit far from where it would in a mature book. What earns a level more weight is persistence. The GEX heatmap shows each strike over the last 30 days; a band that keeps reappearing is worth watching, while one that shows up once and fades likely reflects a single trade. As the market deepens, expect the profile to become steadier.
HYPE's spot price can also move sharply on its own, so regime labels here describe hedging pressure, not guaranteed behavior.
Snapshot taken once daily at 08:00 UTC; a thin market can change meaningfully before the next one.
FAQ
What is HYPE in the context of options?
HYPE is the native token of Hyperliquid, a blockchain best known for its perpetual futures exchange. HYPE is one of the newer listed option markets, so its positioning has a shorter history than bitcoin or ether.
How reliable are HYPE gamma levels?
They are best treated as early signals. With limited open interest, a single new position can create or erase a peak, so a level becomes more credible only after it persists for several snapshots.
How can I check whether a HYPE level is persistent?
Open the 30-day GEX heatmap for HYPE. A strike that stays bright across many days reflects positioning that has not been closed, while a band that flickers in and out is likely noise.
When is the HYPE page refreshed?
Once per day at 08:00 UTC. For faster changes, the GammaFlip app recalculates HYPE levels on a 15-minute cycle, with per-expiration views.
Levels are derived from end-of-period options open interest and are published once a day. Educational information, not investment advice.