Options Flow · Past session

Hedging Flow

NVDA · Wed, Nov 4, 2026. Estimated dealer hedging pressure from that session’s option trades, on price’s timeline. Positive means the hedge buys stock.

Gamma WeatherMixedRunning 20m

Mixed. Hedging pressure is mixed, gamma near price is flat and leaning supportive, and the flip cushion is narrowing.

AgreeHeads-upFragileStand down

Flip cushion: 1.5 pts below, SECURE | 5m: narrowing 0.3 pts | 15m: narrowing 0.4 pts, accelerating

  • 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

-$428.2M
Estimated hedge selling

Call-driven

-$169.7M
Pressure from call activity

Put-driven

-$258.5M
Pressure from put activity

Last flip

To buying
16:05
▲ Flipped to buying pressure at 16:05

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

Firming

Structure is stabilizing and supportive, so dips are being absorbed.