SPY GEX — week of 28 Sep – 4 Oct 2026
Gamma flip, P1 and N1 from each daily snapshot (after the US close), all expirations
- Above the flip
- 0 of 5sessions in positive gamma
- Flip range
- 768.81 – 770.13
- Spot, week
- +1.2%765.30 → 774.76
SPY stayed below the gamma flip on all 5 sessions of the week: negative gamma, where dealer hedging tends to amplify moves. The flip ranged from 768.81 to 770.13. Spot went from 765.30 to 774.76 (+1.2%) by the next week's first snapshot. The largest next-day move, +0.7%, followed the 1 Oct snapshot (negative gamma).
Daily snapshots
| Snapshot | Spot | Gamma flip | Spot vs flip | P1 | N1 | Regime | Next day |
|---|---|---|---|---|---|---|---|
| 28 Sep 16:14 ET | 765.30 | 770.13 | -0.6% | 785.00 | 761.00 | Negative | -0.1% |
| 29 Sep 16:11 ET | 764.56 | 769.33 | -0.6% | 785.00 | 761.00 | Negative | -0.2% |
| 30 Sep 16:11 ET | 763.05 | 768.81 | -0.8% | 785.00 | 745.00 | Negative | +0.2% |
| 1 Oct 16:07 ET | 764.42 | 768.86 | -0.6% | 785.00 | 745.00 | Negative | +0.7% |
| 2 Oct 16:02 ET | 769.71 | 769.80 | -0.0% | 785.00 | 745.00 | Negative | +0.7% |
"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.