TSLA GEX Today — Gamma Flip & Key Levels
As of Fri 18 Sep 2026 close · all expirations
- Spot
- 364.44
- Gamma flip
- 354.822.6% below spot
- Regime
- Positive gamma
- Positive peak (P1)
- 400.00
- Negative peak (N1)
- 340.00
- Max pain
- 365.0023 Sep 2026 expiry
- Net GEX
- +175.1M
TSLA is in positive gamma: the gamma flip at 354.82 is 2.6% below spot (364.44). Above the flip, dealers are long gamma and tend to dampen moves. The top positive gamma peak (P1) is at 400.00 (+9.8% from spot), where dealer hedging tends to stabilize price. The top negative gamma peak (N1) is at 340.00 (-6.7% from spot), a volatility trigger rather than support. The flip moved -0.8% since the previous snapshot (357.60 → 354.82).
TSLA GEX levels — last 14 snapshots
| Snapshot | Spot | Gamma flip | P1 | N1 | Regime |
|---|---|---|---|---|---|
| 18 Sep 16:02 ET | 364.44 | 354.82 | 400.00 | 340.00 | Positive |
| 17 Sep 16:04 ET | 366.35 | 357.60 | 370.00 | 350.00 | Positive |
| 16 Sep 16:07 ET | 358.37 | 354.97 | 370.00 | 350.00 | Positive |
| 15 Sep 16:09 ET | 356.23 | 354.23 | 370.00 | 350.00 | Positive |
| 14 Sep 16:14 ET | 358.83 | 354.74 | 370.00 | 350.00 | Positive |
| 11 Sep 16:00 ET | 365.49 | 357.76 | 400.00 | 350.00 | Positive |
| 10 Sep 16:00 ET | 363.59 | 357.68 | 370.00 | 350.00 | Positive |
| 9 Sep 16:00 ET | 367.79 | 355.17 | 370.00 | 340.00 | Positive |
| 8 Sep 16:00 ET | 368.04 | 350.90 | 370.00 | 340.00 | Positive |
| 4 Sep 16:00 ET | 353.93 | 356.60 | 400.00 | 360.00 | Negative |
| 3 Sep 16:00 ET | 376.36 | 346.53 | 400.00 | 340.00 | Positive |
| 2 Sep 16:00 ET | 356.98 | 344.68 | 400.00 | 340.00 | Positive |
| 1 Sep 16:00 ET | 356.12 | 352.67 | 370.00 | 340.00 | Positive |
| 31 Aug 16:00 ET | 367.93 | 343.12 | 370.00 | 340.00 | Positive |
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About TSLA options GEX
Tesla shares have a history of large price swings, and short-dated options on the stock can concentrate gamma close to the current price. The contracts are American-style and settled in Tesla shares, with weekly expiries next to the monthly cycle that ends on the third Friday.
This page collapses every listed TSLA expiry into a single gamma exposure curve. It marks the flip point, the largest positive peaks, the largest negative peaks and the max pain strike, while the heatmap replays the last 30 days of strike-level GEX.
For Tesla, the regime is the first thing to check. Below the flip, dealers are short gamma and hedge in the direction of the move, so selloffs and squeezes can travel further than the peaks on the chart suggest. Above the flip the picture calms down, and P1 tends to act as a place where rallies stall, with one caveat. The chart treats every call as one that dealers own, so short-dated call strikes above the price show up as positive peaks. If customers have been buying those calls aggressively, dealers could actually be short them, and a rally into a P1 above spot may turn into a chase rather than stall. Because weekly contracts roll off every Friday, use the heatmap to see whether a peak has survived several expiries or is about to vanish with the next one.
Values are based on end-of-day open interest in the latest available report and go live after the US close, so intraday trading shows up only in the next snapshot.
FAQ
How are TSLA options settled?
Tesla options are American-style and physically settled. Exercising a call buys Tesla shares at the strike and exercising a put sells them, so no cash settlement takes place.
Why can TSLA move quickly when dealers are short gamma?
When dealers are net short gamma, staying hedged means buying as the stock rises and selling as it falls. That flow runs in the direction of the move, so it can make price swings larger and faster than they would otherwise be.
Why do short-dated options matter for TSLA gamma?
Gamma is highest for at-the-money options close to expiration. When much of the open interest sits in contracts that expire within days, a modest price change can shift dealer hedging needs sharply.
How often does the TSLA page update?
The page refreshes once each trading day, after the US close, using end-of-day open interest in the latest report available for every listed Tesla expiry.
Levels are derived from end-of-period options open interest and are published once a day. Educational information, not investment advice.