SPY 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
- 4 of 5sessions in positive gamma
- Flip range
- 734.31 – 743.42
- Spot, week
- -0.1%739.21 → 738.55
SPY was above the gamma flip on 4 of 5 sessions and below it on 1. The flip ranged from 734.31 to 743.42. Spot went from 739.21 to 738.55 (-0.1%) by the next week's first snapshot. The median next-day move was 0.7% after positive-gamma days and 0.1% after negative-gamma days. 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 | 739.21 | 734.31 | +0.7% | 740.00 | 710.00 | Positive | -0.1% |
| 12 May 16:00 ET | 738.19 | 736.58 | +0.2% | 745.00 | 700.00 | Positive | +0.6% |
| 13 May 16:00 ET | 742.28 | 735.06 | +1.0% | 745.00 | 700.00 | Positive | +0.8% |
| 14 May 16:00 ET | 748.10 | 738.77 | +1.2% | 750.00 | 700.00 | Positive | -1.2% |
| 15 May 16:00 ET | 739.09 | 743.42 | -0.6% | 745.00 | 730.00 | Negative | -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.
SPY gamma exposure today
Today's flip, P1, N1 and max pain are on the SPY GEX page. In the app the levels update every 15 minutes, and the Time Machine replays any past moment.
Open SPY 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.