SPX GEX — week of 11–17 May 2026
Gamma flip, P1 and N1 from each daily snapshot (after the US close), all expirations
- Above the flip
- 5 of 5sessions in positive gamma
- Flip range
- 7,207 – 7,309
- Spot, week
- -0.1%7,414 → 7,404
SPX stayed above the gamma flip on all 5 sessions of the week: positive gamma, where dealer hedging tends to dampen moves. The flip ranged from 7,207 to 7,309. Spot went from 7,414 to 7,404 (-0.1%) by the next week's first snapshot. The largest next-day move, -1.2%, followed the 14 May snapshot (positive gamma).
Daily snapshots
| Snapshot | Spot | Gamma flip | Spot vs flip | P1 | N1 | Regime | Next day |
|---|---|---|---|---|---|---|---|
| 11 May 16:00 ET | 7,414 | 7,207 | +2.8% | 7,500 | 6,000 | Positive | -0.1% |
| 12 May 16:00 ET | 7,403 | 7,227 | +2.4% | 7,500 | 6,800 | Positive | +0.6% |
| 13 May 16:00 ET | 7,444 | 7,229 | +2.9% | 7,500 | 6,500 | Positive | +0.8% |
| 14 May 16:00 ET | 7,502 | 7,263 | +3.2% | 7,500 | 6,000 | Positive | -1.2% |
| 15 May 16:00 ET | 7,410 | 7,309 | +1.4% | 7,500 | 7,100 | Positive | -0.1% |
"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.
SPX gamma exposure today
Today's flip, P1, N1 and max pain are on the SPX GEX page. In the app the levels update every 15 minutes, and the Time Machine replays any past moment.
Open SPX 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.