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Options Flow · Past session

Hedging Flow

NDX · Mon, Nov 9, 2026. Estimated dealer hedging pressure from that session’s option trades, on price’s timeline. Positive means the hedge buys stock.

Gamma WeatherMixedRunning 25mSupported dip forming · 1/2

Mixed. Hedging pressure is selling, gamma near price is flat and leaning supportive, and the flip cushion is widening. Supported dip is forming, not yet confirmed.

AgreeHeads-upFragileStand down

Flip cushion: 689 pts below, SECURE | 5m: widening 0.4 pts | 15m: widening 61 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

$7.36B
Estimated hedge buying

Call-driven

$5.29B
Pressure from call activity

Put-driven

$2.07B
Pressure from put activity

Last flip

To selling
15:40
▼ Flipped to selling pressure at 15:40

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

Fragile bid

Supportive lean but thinning gamma: a bid that can gap if it breaks.