If you trade gamma, these 12 terms matter:
• Call Wall — biggest call strike, dealers sell into strength (rallies stall under it)
• Put Wall — biggest put strike, dealers buy the dip (downs get cushioned)
• Pin Magnet — neutral strike that pulls price into expiry
• Gamma Flip — where dealers stop calming moves and start making them bigger
• GEX Cluster — stacked strikes that create a thick hedging zone
1/3
$SPY $SPX $QQQ
• Call Wall — biggest call strike, dealers sell into strength (rallies stall under it)
• Put Wall — biggest put strike, dealers buy the dip (downs get cushioned)
• Pin Magnet — neutral strike that pulls price into expiry
• Gamma Flip — where dealers stop calming moves and start making them bigger
• GEX Cluster — stacked strikes that create a thick hedging zone
1/3
$SPY $SPX $QQQ