S&P 500 Stock Market Gamma Trading Levels Based on Options Open Interest
FOR OPTIONS & EQUITIES TRADERS
See where positioning and volatility create real setups
Discover trade opportunities based on SpotGamma’s proprietary directional and volatility scanners, helping you spot key setups across 3,500+ stocks and ETFs.
as seen in
Stop searching. Start seeing the setups
"Pitching a shutout with the Squeeze scanner, I'm 8 for 8 so far."
- toni o., SpotGamma Subscriber
Discover the market’s hidden opportunities
Markets are constantly moving, making it difficult to know which setups are worth your attention.
SpotGamma’s scanners surface a focused list of names unveiling stocks with extreme positioning, unusual volatility conditions, or pricing discrepancies — so that you can capitalize on new opportunities.
How SpotGamma Scanners Surface Actionable Setups
Feature
why it matters
Squeeze Scanner — Flags stocks that have potential for an explosive upside move based on proprietary SpotGamma metrics.
Reveals where upside price action could accelerate quickly, before the move takes place.
VRP Scanner (Volatility Risk Premium) — Highlights names that have unusually expensive options.
Exposes overpriced options and potential mean reversion setups, so you can structure trades aligned with current conditions
Reverse VRP Scanner — Highlights stocks with unusually cheap options.
Identifies when options are priced favorably for buyers, surfacing names where the cost of going long options is relatively low.
Options Impact Scanner — Flags the top 50 names where options hedging pressure is exerting substantial influence relative to the volume traded.
Reveals where dealer hedging activity is actively moving price, giving you a read on which names are being driven by options.
Earnings IV Crush Scanner — Surfaces stocks where options prices — measured using Implied Volatility — could collapse quickly after earnings.
Identifies potential premium-selling opportunities around earnings dates, where options pricing may not yet reflect potential changes to volatility.
Key Level Movement Scanners — Six scanners displaying the 25 names with the greatest day-over-day shift in SpotGamma's Call Wall, Put Wall, or Hedge Wall.
Tracks where key support and resistance levels have shifted pre-market, so you can see when the structural backdrop for a trade is strengthening or breaking down.
Stock Scanners — A suite of additional screeners covering IV changes, sector ETFs, and names with large positions expiring soon.
Discover names primed for volatility shifts, exposed to unique sector conditions, or driven by expiration-driven dynamics — all in one place.
Scanners Table — A fully sortable table displaying all scanner results alongside key metrics for each stock.
Creates a structured, data-rich workspace where you can filter, discover, and compare trade setups.
See scanners In Action
SpotGamma Scanners Flag NBIS +14% Squeeze
Case Study Snapshot: NBIS | July 28, 2025
SpotGamma’s Squeeze Scanner highlighted the upside setup for two days in advance giving traders time to act — while traders without that visibility would see the move too late.
The Setup
On July 28, 2025, NBIS appeared on the Squeeze Scanner after holding the $50 key delta level, showing sustained support from options positioning even as the broader market weakened.
Outcome & Why It Matters
Over the following two sessions, NBIS moved from $50 to $57 while the broader market declined, showing how positioning pressure can drive price independently of overall market direction.
SpotGamma Essential:
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Unlock Scanners with SpotGamma Essential
Cut through the noise and focus on setups driven by real options positioning. With SpotGamma's Scanners, traders can find better setups, avoid crowded trades, and position with greater confidence. Unlock SpotGamma Scanners with any SpotGamma subscription, plus daily analysis, professional-grade tools, and education.
Scan the full market to reveal new trading opportunities.
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Scanners FAQ
How are these different from a standard stock screener?
Most stock screeners look at some combination of price, volume, or technical indicators. SpotGamma Scanners are built on options market data — which provides critical insight into dealer hedging, implied volatility, and market positioning. SpotGamma surfaces conditions that standard screeners typically do not see, giving you an options-informed edge before you enter a trade.
Where can I access SpotGamma’s Scanners?
Scanners are accessible in several places within the SpotGamma dashboard. The dedicated Scanners page is the primary hub, where you can browse all scanner results and sort through the full stock screener table. Scanner outputs also feed directly into Compass, SpotGamma's positioning grid, where you can plot scanner results visually alongside volatility and directional data. Individual scanner results are also available within Equity Hub, so you can pull up a name from a scanner and immediately dig into the options positioning for that stock.
If I don’t trade options, are SpotGamma’s Scanners still useful for me?
Yes, several scanners are designed to support directional equity traders, not just options traders. The Squeeze Scanner identifies stocks positioned for upside acceleration, while the Key Level Movement scanners track where structural support and resistance are shifting. You do not need to trade options to benefit from the setups these scanners indicate.
How often are the scanners updated?
Scanner results reflect pre-market data and are usually updated around 3am ET each morning. By delivering a focused list of names before the open, you can enter the session with a defined plan with an understanding of the conditions faced by the stocks you trade.
Can I use SpotGamma’s Scanners to filter for a specific strategy or trading style?
Yes, SpotGamma’s scanners page is organized to support multiple approaches. Proprietary scanners like the Squeeze Scanner are suited to traders looking for directional setups, while the VRP Scanner is suited to premium sellers. Key Level Movement scanners help traders who manage positions around support and resistance. The Stock Screener table additionally lets you sort and filter results by the metrics most relevant to your approach.
What subscription plan includes access to Scanners?
Scanners are included with all SpotGamma subscription tiers, starting with SpotGamma Essential. The Essential tier includes Scanners, Equity Hub, Tape, the Options Calculator, and daily expert analysis through the Founder's Note.
I'm new to options. Will I be able to understand and use these Scanners?
SpotGamma’s scanners are designed to surface clear, actionable signals — you do not need to be an expert in options pricing to use them. Each scanner includes a plain-language description of what it measures and the conditions identified. There are numerous walkthrough videos, a dedicated user guide, and twice-weekly live Q&A sessions so you can build confidence quickly in using SpotGamma tools.
