Hedging Flow
NDX · Thu, Nov 5, 2026. Estimated dealer hedging pressure from that session’s option trades, on price’s timeline. Positive means the hedge buys stock.
Supported dip. Hedging pressure is selling, gamma near price is flat and leaning capping, and there is no gamma flip in the profile.
Flip cushion: no gamma flip in the profile
- 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
Call-driven
Put-driven
Last flip
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
CappingStructure is stabilizing but building above, so rallies are being sold into.