Gamma Axis · gamma levels S&P 500 & Nasdaq-100 - intraday gamma levels
Key options-positioning levels for the SPX (ES futures) and NDX (NQ futures): gamma walls, GEX magnets, negative-gamma accelerators, the HVL flip and the 1-day cone. Published automatically each session.
New levels go live ~5–10 minutes after the market open, each session.
Session 2026-10-30 · generated Oct 30, 14:33 (Paris)
| ES | SPX | Nature · note |
|---|---|---|
| 8,136 | 8,100 | Call Resistance · Resistance wall |
| 7,739 | 7,705 | Call Resistance 0DTE · Resistance wall |
| 7,702 | 7,668 | 1D Max · 1-day cone |
| 7,668 | 7,635 | Neg Gamma 2 · Accelerator |
| 7,659 | - | ◂ spot |
| 7,658 | 7,625 | GEX 3 · GEX magnet |
| 7,633 | 7,600 | Neg Gamma 0DTE · Accelerator |
| 7,623 | 7,590 | Put Support · Support wall |
| 7,618 | 7,585 | GEX 2 · GEX magnet |
| 7,458 | 7,426 | HVL 0DTE · HVL |
December contract remains the front month - the March contract trades a fraction of its volume.
Regime
Positive gamma: same-day and all-expiries flow gamma read positive at the open, but open-interest gamma is negative across the whole band around price, so the cushion rests on same-day flow that fades into the close.
Scenarios
Range inside the cone
Price holds between the cone low 7623 and the cone high 7702, with 7658 acting as a magnet in positive gamma. Moves tend to slow near 7658.
Invalidation Sustained trade below 7623 or above 7702.
Break lower
Below 7633 the negative-gamma pocket can extend moves quickly toward the cone low 7623 and 7618. The cone low and the dealer put wall coincide at 7623.
Invalidation Fast reclaim of 7658.
Squeeze higher
A move through the negative-gamma pocket 7668 may extend toward the cone high 7702, then the same-day call wall 7739 where moves tend to slow.
Invalidation Rejection back under 7658.
GO / NO-GO checklist
- ✕Opening gap crossed the prior session's put-side wall - structure still repricing
- ▲Same-day flow gamma positive while open-interest gamma is negative around price
- ▲Volatility index up about 10% on the day
- ✓Expected move about 0.51% with walls consistent with the cone
- ✓Price clearly above the same-day gamma flip 7458
Flow
Opening flow is thin so far: a matched opening purchase and sale of far out-of-the-money S&P ETF puts for January (about 6870 index) in the same minute - roll or hedge, neutral, not a level.
lvl_ES_20261030_1433.csvPrice Level,Note,Foreground Color,Background Color 8136,Call Resistance,yellow,black 7739,Call Resistance 0DTE,yellow,black 7702,1D Max,yellow,black 7668,Neg Gamma 2,yellow,black 7658,GEX 3,yellow,black 7633,Neg Gamma 0DTE,yellow,black 7623,Put Support,yellow,black 7618,GEX 2,yellow,black 7458,HVL 0DTE,yellow,black
Price Level,Note,Foreground Color,Background Color 8100,Call Resistance,yellow,black 7705,Call Resistance 0DTE,yellow,black 7668,1D Max,yellow,black 7635,Neg Gamma 2,yellow,black 7625,GEX 3,yellow,black 7600,Neg Gamma 0DTE,yellow,black 7590,Put Support,yellow,black 7585,GEX 2,yellow,black 7426,HVL 0DTE,yellow,black
Save as .csv for the Jigsaw platform, or paste into the TradingView indicator (open the indicator).
Session 2026-10-30 · generated Oct 30, 14:37 (Paris)
| NQ | NDX | Nature · note |
|---|---|---|
| 30,032 | 29,870 | EM High · Other |
| 29,836 | 29,675 | Call Resistance · Resistance wall |
| 29,097 | 28,940 | EM Low · Other |
| 29,057 | 28,900 | Call Resistance 0DTE · Resistance wall |
| 29,055 | 28,898 | HVL · HVL |
| 28,775 | 28,620 | GEX 2 · GEX magnet |
| 28,705 | 28,550 | Put Support · Support wall |
| 28,689 | - | ◂ spot |
| 28,655 | 28,500 | Neg Gamma 0DTE · Accelerator |
| 28,594 | 28,440 | Neg Gamma 2 · Accelerator |
December contract remains the front month - the March contract trades a fraction of its volume.
Regime
Positive gamma: same-day flow gamma reads positive at price, but price trades about 1.3% below the gamma flip 29055 and open-interest gamma is negative, so the cushion is thin and can fade quickly.
Scenarios
Rotation below the put wall
Price rotates between the negative-gamma pocket 28655 and the same-day strike 28775, with the put wall 28705 in the middle. Moves tend to slow near 28775.
Invalidation Sustained trade below 28594 or above 28775.
Extension lower
Below 28655 the negative-gamma pockets 28655 and 28594 may extend moves quickly. These are accelerators, not supports.
Invalidation Fast reclaim of 28705.
Repair toward the flip
A reclaim of 28775 may extend toward the gamma flip and same-day call wall 29055-29057, just under the expected-move low 29097, where moves tend to slow.
Invalidation Rejection back under 28705.
GO / NO-GO checklist
- ✕Opening gap crossed yesterday's walls and left price below the expected-move band
- ✕S&P map is NO-GO
- ▲Main same-day wall below 150M
- ▲Open-interest gamma negative while same-day flow gamma is positive
- ✓Expected move about 1.59%
Flow
Opening flow is thin: one negotiated Nasdaq-100 ETF call block for mid-November at about 29052 in futures terms, on the call wall 29057 - neutral side, marks the ceiling area rather than a new level.
lvl_NQ_20261030_1437.csvPrice Level,Note,Foreground Color,Background Color 30032,EM High,yellow,black 29836,Call Resistance,yellow,black 29097,EM Low,yellow,black 29057,Call Resistance 0DTE,yellow,black 29055,HVL,yellow,black 28775,GEX 2,yellow,black 28705,Put Support,yellow,black 28655,Neg Gamma 0DTE,yellow,black 28594,Neg Gamma 2,yellow,black
Price Level,Note,Foreground Color,Background Color 29870,EM High,yellow,black 29675,Call Resistance,yellow,black 28940,EM Low,yellow,black 28900,Call Resistance 0DTE,yellow,black 28898,HVL,yellow,black 28620,GEX 2,yellow,black 28550,Put Support,yellow,black 28500,Neg Gamma 0DTE,yellow,black 28440,Neg Gamma 2,yellow,black
Save as .csv for the Jigsaw platform, or paste into the TradingView indicator (open the indicator).
Get the levels by email
New SPX/ES & NDX/NQ gamma levels in your inbox each session. Free - unsubscribe anytime.
Level nature legend
How these levels are built
- Computed each session from live options-positioning data - dealer gamma exposure, open interest and intraday order flow - aggregated, not hand-drawn.
- Recomputed intraday and published automatically within ~60 seconds of each run.
- Every level is typed to a specific mechanism: resistance / support gamma walls, GEX magnets, negative-gamma accelerators, the HVL flip and the 1-day expected-move cone.
- A structural, statistical map of positioning - not price predictions. Not investment advice.