MSFT GEX Today — Gamma Flip & Key Levels
As of Fri 18 Sep 2026 close · all expirations
- Spot
- 494.26
- Gamma flip
- 424.6214.1% below spot
- Regime
- Positive gamma
- Positive peak (P1)
- 575.00
- Negative peak (N1)
- 475.00
- Max pain
- 495.0023 Sep 2026 expiry
- Net GEX
- +1.1B
MSFT is in positive gamma: the gamma flip at 424.62 is 14.1% below spot (494.26). Above the flip, dealers are long gamma and tend to dampen moves. The top positive gamma peak (P1) is at 575.00 (+16.3% from spot), where dealer hedging tends to stabilize price. The top negative gamma peak (N1) is at 475.00 (-3.9% from spot), a volatility trigger rather than support. The flip moved +0.9% since the previous snapshot (420.91 → 424.62).
MSFT GEX levels — last 14 snapshots
| Snapshot | Spot | Gamma flip | P1 | N1 | Regime |
|---|---|---|---|---|---|
| 18 Sep 16:02 ET | 494.26 | 424.62 | 575.00 | 475.00 | Positive |
| 17 Sep 16:04 ET | 497.45 | 420.91 | 500.00 | 475.00 | Positive |
| 16 Sep 16:07 ET | 490.69 | 437.71 | 500.00 | 475.00 | Positive |
| 15 Sep 16:09 ET | 497.69 | 443.65 | 510.00 | 480.00 | Positive |
| 14 Sep 16:14 ET | 505.45 | 412.94 | 510.00 | 475.00 | Positive |
| 11 Sep 16:00 ET | 495.61 | 413.05 | 510.00 | 475.00 | Positive |
| 10 Sep 16:00 ET | 492.53 | 408.43 | 510.00 | 485.00 | Positive |
| 9 Sep 16:00 ET | 491.77 | 407.81 | 510.00 | 475.00 | Positive |
| 8 Sep 16:00 ET | 494.01 | 406.81 | 510.00 | 475.00 | Positive |
| 4 Sep 16:00 ET | 499.71 | 407.81 | 510.00 | 475.00 | Positive |
| 3 Sep 16:00 ET | 510.11 | 410.49 | 510.00 | 475.00 | Positive |
| 2 Sep 16:00 ET | 496.86 | 407.16 | 510.00 | 492.50 | Positive |
| 1 Sep 16:00 ET | 501.16 | 406.14 | 510.00 | 497.50 | Positive |
| 31 Aug 16:00 ET | 507.32 | 405.59 | 525.00 | 475.00 | Positive |
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About MSFT options GEX
Microsoft options are listed on the US options exchanges as American-style contracts that deliver shares on exercise. Monthly contracts expire on the third Friday, with weekly series in between. How much the stock is expected to move, as reflected in its implied volatility, shapes how its gamma profile behaves.
Here, all MSFT expirations are rolled into a single gamma exposure profile, with markers for the flip, the positive peaks P1/P2, the negative peaks N1/N2 and max pain, plus a heatmap of the past 30 days.
When volatility is low, price often stays within reach of the same strikes, and the stock can spend long stretches in positive gamma. In that regime dealer hedging works against moves, so the biggest positive peak often behaves like a magnet. Near monthly expiry, a stock like this can drift toward a strike with heavy open interest and settle close to it. That tendency is called pinning, and it is worth watching for rather than counting on. The signal to watch is the flip: when price slips below it, the calm character can change quickly, dealers move into negative gamma, and N1 becomes the more relevant level.
The data reflects end-of-day open interest in the latest available report and is posted after the US session closes, so it lags any intraday repositioning.
FAQ
Are MSFT options American-style or European-style?
Microsoft options are American-style equity options that settle physically. If one is exercised, Microsoft shares are delivered at the strike price instead of a cash payment being made.
What is pinning?
Pinning is a tendency for a stock to finish close to a strike with heavy open interest as expiration approaches. It can happen when dealers who are long gamma at that strike sell into rallies and buy dips while hedging. It is a tendency, not a rule.
What does positive gamma mean for Microsoft?
In positive gamma, dealers hedge by selling when Microsoft rises and buying when it falls. That flow works against the move, which tends to dampen swings while the stock stays above its gamma flip.
How often are MSFT levels refreshed?
Each US trading day, once the market has closed, Microsoft levels are recomputed from end-of-day open interest in the newest available report across all MSFT expiries.
Levels are derived from end-of-period options open interest and are published once a day. Educational information, not investment advice.