COST Gamma Exposure
Per-strike dealer gamma positioning for COST. Identifies call wall, put wall, and the gamma flip level where dealer hedging behavior changes.
GEX by Strike
Per-Strike GEX Data
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Sign up free - 30 secondsCOST Gamma Exposure - Live Analysis
COST is currently trading at $977.54 in a negative gamma regime. Net gamma exposure (GEX) stands at +$15.4M, with the gamma flip level at $981.59.COST is currently trading below the gamma flip, meaning dealer hedging pressure is destabilizing - dealers amplify moves in both directions, increasing intraday volatility.
In the current negative gamma regime, options market makers are net short gamma on COST. When COST falls, dealers must sell shares to maintain their hedge - adding selling pressure that accelerates the decline. When COST rises, dealers buy - fueling the rally. This creates a trending, volatile environment where moves are amplified rather than dampened. Breakout strategies tend to outperform mean reversion in negative gamma.
Key COST levels from dealer gamma positioning: The call wall at $1000 is the strike with the highest concentration of call gamma - dealers sell here on rallies, creating upside resistance. The put wall at $950 has the highest put gamma - dealers buy here on dips, creating downside support. The dealer-defined trading range is $950 – $1000. In a positive gamma environment, expect COST to gravitate within this zone.
Volatility context: COST ATM implied volatility is 24.0%.
FlashAlpha computes COST gamma exposure from live options data across all expirations for 6,000+ US equities and ETFs. The GEX chart above shows per-strike gamma with call GEX (green), put GEX (red), and net GEX (blue line). Sign up free to unlock all key levels, or use the GEX API to pull COST gamma exposure data programmatically.
Frequently Asked Questions - COST Gamma Exposure
What is COST's gamma exposure today?
COST currently has net gamma exposure (GEX) of +$15.4M in a negative gamma regime. Gamma exposure (GEX) measures the total gamma held by options market makers at each strike price. It reveals where dealer hedging flows are concentrated and how they create intraday support and resistance levels.
Is COST in positive or negative gamma?
COST is currently in a negative gamma regime. In positive gamma, dealers buy dips and sell rallies - dampening volatility. In negative gamma, dealers amplify moves in both directions - creating trending, volatile conditions. The gamma flip level marks the transition point between these two regimes.
Where is COST's gamma flip level?
The COST gamma flip is currently at $981.59. The gamma flip is the price level where aggregate dealer gamma transitions from positive (supportive) to negative (destabilizing). Above the flip, dealers suppress volatility. Below it, they amplify moves. Many traders use the gamma flip as a key intraday pivot level.
What are COST's key support and resistance levels from options?
The COST call wall (resistance) is at $1000 and the put wall (support) is at $950. The call wall is the strike with the highest call gamma - dealers sell here, creating resistance. The put wall has the highest put gamma - dealers buy here, creating support. In positive gamma regimes, price tends to oscillate between these two levels.
Related Reading
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What is Gamma Exposure?
Gamma Exposure (GEX) quantifies the total gamma held by options market makers at each strike price. It reveals where dealer hedging flows are concentrated and how they affect price action.
Positive GEX (long gamma): Dealers buy dips and sell rips, dampening volatility. Price tends to pin near high-gamma strikes.
Negative GEX (short gamma): Dealers sell into drops and buy into rips, amplifying moves. Expect increased volatility and trend-following behavior.
Key Levels
- Call Wall: The strike with the highest call gamma. Acts as a resistance magnet in positive gamma regimes.
- Put Wall: The strike with the highest put gamma (absolute). Acts as a support magnet.
- Gamma Flip: The price level where net gamma shifts from positive to negative. A critical regime boundary.
- Max Pain: The strike where option holders experience maximum loss. Price gravitates here near expiration.
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