Gamma Flip Zone

PRO

Gamma & Exposure · HTTP Data · Pro Tier

Overview

The Gamma Flip Zone window is a dedicated visualization for identifying and analyzing the strikes where aggregate dealer gamma exposure crosses zero — the gamma flip zones. While Gammatrix displays overall gamma structure, this window focuses on the precise points where dealer positioning transitions from stabilizing (positive gamma) to destabilizing (negative gamma) and vice versa.

It uses linear interpolation to find the exact zero-crossing strikes between bars, then renders them with a custom Chart.js plugin that includes smart label collision avoidance — so if multiple flip zones appear near each other, the annotations shift automatically to stay readable.

Gamma Flip Zone showing the critical price level where dealer gamma transitions from positive to negative — SPY example

Key Features

Multi-flip detection: Identifies all strikes where net gamma crosses zero — not just one. Each flip zone is rendered as a vertical line annotation with direction labels (positive→negative or negative→positive).
Smart collision avoidance: When multiple flip zones or the spot price are close together, labels automatically shift position to avoid overlapping, keeping the chart clean.
7 chart types: Bar, Line, Area, Scatter, Step, Bubble, and Heatmap. Each renders the same gamma data in a different format, letting you choose the view that best fits your analysis.
Expiration filter: View gamma data for all expirations combined or isolate a single expiry date to see flip zones at specific time horizons.
ATM range filter: Narrow the strike range to a percentage around the current spot price (e.g. ±5%, ±10%) to focus on the most relevant flip zones near at-the-money.
View options: Toggle between showing call + put + net gamma, net only, or flip zone lines only. Use Net Only mode to strip away noise and see only the composite.
21 premium themes: Full theme library including Midnight Pro, Arctic Glass, Deep Space, Cyber Red, and more. Themes adjust chart colors, grid, and background.
Guide Panel: Built-in educational overlay explaining gamma flip concepts, what zero-crossings mean for price behavior, and how to trade around them.

How to Read the Chart

Element	Meaning
Green bars	Positive gamma — dealers hedge by buying dips and selling rallies. Price is stabilized.
Red bars	Negative gamma — dealers amplify moves. Price dislocation increases.
Flip zone lines	Vertical lines at the exact strike where gamma crosses zero. Each is labeled with its direction (positive→negative or negative→positive).
Spot price line	Current underlying price, drawn as a glowing vertical line with a label. The spot's proximity to flip zones is the key signal.

Key insight: When spot price approaches a flip zone from the positive-gamma side and crosses into negative territory, expect a regime change — sharper moves, wider ranges, and increased tail risk. The reverse crossing (back into positive gamma) signals a return to compression and mean-reversion.

Use Cases

Regime transition alerts: When the spot price is within 1–2 strikes of a flip zone, you're near a regime boundary. Adjust hedging or position sizing before the cross happens.
Multi-expiration flip analysis: Use the expiration filter to isolate near-dated vs. far-dated flip zones. Near-dated flips have immediate impact; far-dated flips indicate structural positioning shifts.
Intraday range prediction: Flip zones define the boundaries of dealer-driven price stability. If spot is between two flip zones, both in positive gamma, expect mean-reverting range-bound price action.

How to Launch

Open the Window Launcher — click the green + button in the taskbar or press L.

Search for Gamma Flip Zone or browse Gamma & Exposure.

Click to launch. Enter a ticker symbol (e.g. SPY, QQQ, TSLA).

Data loads automatically. Flip zone lines appear where net gamma crosses zero. Use the View Options dropdown to toggle flip visibility.

Data Source & Tier

Data flows through Ohey's HTTP Data Abstraction Layer, which aggregates options chain data with gamma, delta, and open interest for every listed strike. Gamma Flip Zone is available on the Pro tier ($79/month). View pricing →

Related Windows

Gammatrix™ — Full gamma heatmap with 7 chart types for deeper strike-level analysis
FlipTrack — Tracks flip zone changes over time to identify regime shifts
Gamma Exposure (GEX) — Per-strike gamma exposure context for flip zone analysis