Amon Hen

Gamma exposure / INTC

INTC gamma exposure

Dealer hedging is positioned to lean against moves.

INTC is at 115.85. The model found no gamma flip inside its price grid, so the sign of total dealer gamma sets the regime. In positive gamma, dealer hedging tends to lean against moves: dealers sell into rallies and buy into dips.

The call wall is 130 and the put wall is 112. The king node, the strike where dealer hedging is most concentrated, is 130.

As of 4:11 PM ET, Tue Sep 29. The live map refreshes through the trading day.

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The numbers

Price115.85
Gamma regimePositive gamma
Gamma flip–
Call wall130+12.21%
Put wall112-3.32%
King node130+12.21%
Total dealer gamma+$0.09bn per 1% move

Common questions

Is INTC in positive or negative gamma right now?
Positive gamma. As of 4:11 PM ET, Tue Sep 29, INTC is at 115.85. The model found no gamma flip inside its price grid, so the sign of total dealer gamma sets the regime. In positive gamma, dealer hedging tends to lean against moves: dealers sell into rallies and buy into dips.
Where is INTC's gamma flip?
The model found no gamma flip inside its price grid right now.
What are INTC's call wall and put wall?
The call wall is 130 and the put wall is 112. The call wall is the strike above the price with the largest positive dealer gamma; the put wall is the strike below it with the largest negative dealer gamma. They mark where hedging pressure tends to lean against price.
What is INTC's king node?
130. It's the strike with the largest absolute dealer gamma, where hedging is most concentrated.

How it's calculated

Levels come from the INTC options chain (expiries out to 45 days, strikes within 18% of the price), modeled with the industry-standard convention that dealers are long calls and short puts. It's a model of positioning, not a measurement. Full formulas are on the methodology page.

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