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Options Flow · Past session

Hedging Flow

SPX · 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 WeatherSupported dipFresh 5m

Supported dip. Hedging pressure is selling, gamma near price is building and leaning supportive, and the flip cushion is widening.

AgreeHeads-upFragileStand down

Flip cushion: 112 pts below, SECURE | 5m: widening 1.6 pts | 15m: widening 11 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

$102.00B
Estimated hedge buying

Call-driven

$59.92B
Pressure from call activity

Put-driven

$42.08B
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

Firming

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