SpotGamma™

S&P 500 Stock Market Gamma Trading Levels Based on Options Open Interest

AI Options Mania

Monday

January

01

1999

Try SpotGamma HIRO Indicator for Free

Real-time options data

See when options drive stocks

0DTE filter for short-term trades

Get Started Free

Subscribe to the industry's #1 platform delivering daily expert analysis to unveil: 

Proprietary market levels

Bullish or bearish stocks

Hidden trading risks

Get Started Free

Options volumes are exploding in AI stocks like NVDA and AMD. HIRO reveals their impact in real time to give you a trading edge. Join Brent Kochuba, founder of SpotGamma, for everything you need to know.

Key Takeaways

The S&P 500 maintained a tight trading range of 4,100 to 4,150 during the week ending May 12.
Despite significant efforts to push the market beyond these levels in both upward and downward directions, the influence of hedging flows in the options market effectively neutralized these attempts.
SpotGamma, through two crucial data points, has highlighted the significance of these trading ranges. The volatility trigger has acted as a support level for the S&P 500 at 4,100, while the key gamma strike has served as a resistance level at $415 on the S&P 500 ETF (SPY). These levels have effectively kept the market confined within this narrow trading range.

Access today's Founder's Note for FREE!

Expert commentary packed with proprietary key levels, major support and resistance targets, and market analysis.

Sign Up

By subscribing, you agree with our Privacy Policy and provide consent to receive updates from our company.

Subscribe to the industry's #1 platform delivering daily expert analysis to unveil: 

Proprietary market levels

Bullish or bearish stocks

Hidden trading risks

Get Started Free

Recent Market Analysis

Korean Options Mania: How AI, Retail Leverage, and Memory Stocks Turned South Korea Into the World’s Most Volatile Market

Korean Options Mania: How AI, Retail Leverage, and Memory Stocks Turned South Korea Into the World’s Most Volatile Market

South Korea’s options trading mania in 2026 is driven by AI memory stocks, record retail leverage, ELWs, and extreme volatility…

Vol Sellers Shrug off a Hawkish Fed

Vol Sellers Shrug off a Hawkish Fed

Despite a hawkish Fed rattling equities midweek, the market easily and quickly retraced any lost ground by Thursday. With June…

Triple Witching + FOMC Fuels Volatility Risk

Triple Witching + FOMC Fuels Volatility Risk

The market delivered several volatile sessions last week as traders navigated Wednesday’s CPI inflation report, Friday’s massive SpaceX IPO (SPCX),…

GET TODAY'S SPOTGAMMA REPORT
JUST ENTER YOUR EMAIL BELOW AND YOU'LL GET ACCESS TO TODAY'S SPOTGAMMA REPORT AT NO CHARGE
FOR FREE!
Privacy Policy
New Arrivals
SPRING SALE
SAVE 35% ON YOUR FIRST MONTH OR FIRST YEAR WITH ANY NEW SUBSCRIPTION!
Subscribe Now
New Arrivals
an important announcement for a greater purpose
Join us for this free event where some of the top minds in finance will be gathering for our Charity Day, in partnership with Susan G. Komen in their ongoing mission to cure breast cancer.
Join Now
April 30th | Virtual Event
New Arrivals
an important announcement for a greater purpose
Amidst the chaos, unveil what truly drives today's markets. Synthetic OI + Compass give you the best lens to understand options and volatility - get 50% OFF your first year of an Alpha subscription, offer ending today.
Get 50% OFF
TrendSpider + SpotGamma
Last Chance: Get 50% OFF SpotGamma Alpha
New Arrivals
an important announcement for a greater purpose
Join us at 10:30am ET for a LIVE demonstration of SpotGamma key levels, now integrated with TrendSpider's platform!
REGISTER NOW
TrendSpider + SpotGamma