SPDN gamma levels
From the closing options book · September 4, 2026
SPDN's closing options book on September 4, 2026 carried +$390 of net dealer gamma spread across 5 expirations and 3 contracts. The sign is positive, so hedging leans against the move rather than with it.
SPDN's apex — the strike carrying the most gamma in absolute terms — is 9, the same strike as its call wall. When those stack on one level the book is concentrated rather than spread, and that single strike is doing most of the work.
Across the last 10 recorded sessions its call wall has printed two different strikes. Walls that stay put and walls that migrate every session are different objects, and the difference shows up here before it shows up in price.
How SPDN has behaved around these levels
Over the last 50 recorded sessions, SPDN closed between the previous session's put wall and call wall 37 times. Its average daily range over that stretch was 0.92% of price. These are descriptions of what already happened — they are not a forecast, and no level holds every time.
SPDN levels, last 10 sessions
| Session | Close | Apex | Call wall | Put wall |
|---|---|---|---|---|
| Sep 4 | 8.51 | 9 | 9 | — |
| Sep 3 | 8.47 | 8 | 8 | — |
| Sep 2 | 8.56 | 8 | 8 | — |
| Sep 1 | 8.59 | 9 | 9 | — |
| Aug 31 | 8.53 | 9 | 9 | — |
| Aug 28 | 8.49 | 9 | 9 | — |
| Aug 27 | 8.48 | 9 | 9 | — |
| Aug 26 | 8.53 | 9 | 9 | — |
| Aug 25 | 8.52 | 8 | 8 | — |
| Aug 24 | 8.56 | 9 | 9 | — |
Common questions
SPDN's heaviest call-side gamma strike is 9, measured from the closing options book on September 4, 2026. That is 5.8% above where it closed.
SPDN does not currently show a clear put-side gamma concentration.
SPDN does not have a well-defined gamma flip in the current book.
Over the last 50 recorded sessions, SPDN closed between the previous session's put wall and call wall 37 times. Those are counts of what already happened for this symbol — not a forecast, and not a claim about any level holding.
No. This page is built from the closing options book and rebuilt each night, so it describes September 4, 2026. Walls build and dissolve through a session — the live intraday board is inside FlowMonkey, and a free 15-minute delayed SPY board is public at flowmonkey.net/spy-gamma-heatmap.
These are closing levels. The board moves all day.
Walls build and dissolve through the session. FlowMonkey shows the live board on 400+ symbols, with every level priced by whether price can actually reach it today. Start with the free SPY board — no account needed.
Levels are measured from the closing options book and rebuilt nightly. Gamma is an estimate of dealer hedging pressure, not a forecast of direction. Not investment advice.