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Options Flow · Past session

Hedging Flow

NDX · Mon, Nov 2, 2026. Estimated dealer hedging pressure from that session’s option trades, on price’s timeline. Positive means the hedge buys stock.

Gamma WeatherUnstableAging 30m

Unstable. Hedging pressure is selling, gamma near price is thinning and leaning capping, and the flip cushion is widening.

AgreeHeads-upFragileStand down

Flip cushion: 1914 pts below, SECURE | 5m: widening 127 pts | 15m: widening 194 pts, drifting

  • Stable bid
  • Supported dip
  • Fragile rally
  • Unstable
  • Mixed

Pressure now

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Lean

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Stability

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Gamma trend

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Flip cushion

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Gamma Weather was designed in collaboration with Plus3 Forecasting.

Session pressure

-$9.90B
Estimated hedge selling

Call-driven

-$2.67B
Pressure from call activity

Put-driven

-$7.23B
Pressure from put activity

Last flip

To selling
15:15
▼ Flipped to selling pressure at 15:15

Estimated hedging pressure. Inferred from aggressor-classified option trades under the assumption that the passive side of each print was a market maker; that assumption is unvalidated. Not observed dealer flow.

Dealer gamma structure

Deteriorating

Gamma thinning and leaning heavy, so moves are more likely to accelerate.