NOK Gamma Exposure
Per-strike dealer gamma positioning for NOK. Identifies call wall, put wall, and the gamma flip level where dealer hedging behavior changes.
GEX by Strike
curl -H "X-Api-Key: YOUR_API_KEY" "https://lab.flashalpha.com/v1/exposure/levels/NOK"Free: one listed expiry on individual equities, 5 requests/day. ETFs: Basic and above. Indexes: Basic and above. Full-chain GEX: Growth and above. Levels API docs
NOK Gamma Exposure - Live Analysis
NOK is currently trading at $8.46 in a positive gamma regime. Net gamma exposure (GEX) stands at +$1.8M, with the gamma flip level at $8.45.NOK is currently trading above the gamma flip, meaning dealer hedging pressure is supportive - dealers buy dips and sell rallies, dampening intraday volatility.
In the current positive gamma regime, options market makers are net long gamma on NOK. When NOK falls, dealer hedging tends to buy shares - natural buying pressure that often supports the price. When NOK rises, dealers tend to sell - often capping the rally. This mechanical hedging behavior creates a mean-reverting, range-bound environment where price tends to oscillate between key gamma levels rather than trending directionally.
Key NOK levels from dealer gamma positioning: The call wall at $10 is the strike with the largest call GEX (call side only) - dealer hedging there tends to slow rallies. The put wall at $8 is the strike with the largest put GEX (put side only) - dealer hedging there tends to cushion dips. The dealer-defined trading range is $8 - $10. In a positive gamma environment, NOK often trades within this zone.
Volatility context: NOK ATM implied volatility is 59.4%.
FlashAlpha computes NOK gamma exposure from live options data across all expirations for 6,000+ US equities and ETFs. The GEX chart above shows net GEX by strike (green above zero, red below) with the spot price, gamma flip, call wall and put wall marked on the chart; switch to Call vs Put or open interest views for the detail. Sign up free to unlock all key levels, or use the GEX API to pull NOK gamma exposure data programmatically.
Frequently Asked Questions - NOK Gamma Exposure
What is NOK's gamma exposure today?
NOK currently has net gamma exposure (GEX) of +$1.8M in a positive 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 NOK in positive or negative gamma?
NOK is currently in a positive 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 NOK's gamma flip level?
The NOK gamma flip is currently at $8.45. 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 NOK's key support and resistance levels from options?
The NOK call wall (resistance) is at $10 and the put wall (support) is at $8. The call wall is the strike with the largest call GEX (call side only) - dealer hedging there tends to slow rallies. The put wall is the strike with the largest put GEX (put side only) - dealer hedging there tends to cushion declines. In positive gamma regimes, price tends to oscillate between these two levels.
Related Reading
Compare NOK GEX With
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 largest call GEX (call side only). Often resistance in positive gamma regimes.
- Put Wall: The strike with the largest put GEX (put side only, absolute). Often support.
- 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 often drifts toward it near expiration.
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