Dealer Gamma Positioning Screener

Net dealer gamma percentile by stock and ETF · snapshot 2026-10-06

Descriptive only Methodology

Where estimated net options-dealer gamma sits today compared with each name’s own history: 0 is the lowest reading on record, 100 the highest. Raw gamma scales with how big each option market is, so the percentile is what makes names comparable. This page describes positioning; it is not a forecast and not a trading signal. Each symbol links to its quote page, where the dealer positioning card shows the 30-day history.

Median percentile

across 1,339 names · +4.7 pts over 5 days (median)

Below 20th percentile

25%

of names · 20% if spread evenly

At or above 80th

21%

of names · 20% if spread evenly

SPY percentile

+81.2 pts over 5 days

QQQ percentile

+48.2 pts over 5 days

IWM percentile

+3.1 pts over 5 days

DIA percentile

+30.1 pts over 5 days

Where names sit in their own history

1,339 names

181

148

145

121

115

109

118

116

165

0–1010–2020–3030–4040–5050–6060–7070–8080–9090–100

Count of names by net gamma percentile decile. If positioning were spread evenly through history, each bar would hold about a tenth of the names.

Net gamma percentile by name

Symbol	Name	Price	Gamma percentile	5-day chg	Gamma tilt	Vanna tilt	Charm tilt	Open interest ↓
HYG ETF	iShares iBoxx $ High Yield Corporate Bond ETF	77.28	16	-6.2	-0.55	+0.74	-0.68	8.0M
SPY ETF	State Street SPDR S&P 500 ETF Trust	779.60	99	+81.2	+0.25	+0.73	-0.64	8.0M
EWZ ETF	iShares MSCI Brazil ETF	42.95	99	+62.4	+0.90	+0.27	+0.17	6.8M
TLT ETF	iShares 20+ Year Treasury Bond ETF	77.33	25	+5.4	+0.02	+0.46	-0.53	5.7M
QQQ ETF	Invesco QQQ Trust, Series 1	760.30	99	+48.2	+0.29	+0.57	-0.46	5.7M
IWM ETF	iShares Russell 2000 ETF	280.85	4	+3.1	-0.48	+0.67	-0.66	5.3M
XLF ETF	State Street Financial Select Sector SPDR ETF	53.98	4	+2.8	-0.34	+0.36	-0.26	2.9M
LQD ETF	iShares iBoxx $ Investment Grade Corporate Bond ETF	102.19	36	-7.8	-0.31	+0.61	-0.62	2.1M
IBIT ETF	iShares Bitcoin Trust ETF	48.41	90	+17.5	+0.51	+0.47	-0.56	2.1M
FXI ETF	iShares China Large-Cap ETF	33.75	17	+5.5	-0.17	+0.39	-0.36	1.9M
EEM ETF	iShares MSCI Emerging Markets ETF	68.35	43	+12.3	+0.12	+0.58	-0.48	1.8M
XLE ETF	State Street Energy Select Sector SPDR ETF	63.91	13	+11.5	-0.05	+0.60	-0.66	1.4M
KRE ETF	State Street SPDR S&P Regional Banking ETF	70.11	4	+1.7	-0.35	+0.61	-0.61	1.3M
XLU ETF	State Street Utilities Select Sector SPDR ETF	41.02	100	+1.7	+0.60	+0.40	-0.08	1.2M
IEF ETF	iShares 7-10 Year Treasury Bond ETF	89.14	27	-13.6	-0.26	+0.64	-0.69	1.2M
GDX ETF	VanEck Gold Miners ETF	88.20	23	+18.0	+0.02	+0.58	-0.67	862K
KWEB ETF	KraneShares CSI China Internet ETF	24.53	47	+3.5	+0.22	+0.54	-0.73	858K
EFA ETF	iShares MSCI EAFE ETF	104.23	1	-0.5	-0.49	+0.81	-0.78	777K
SMH ETF	VanEck Semiconductor ETF	631.88	99	+2.9	+0.31	+0.45	-0.40	580K
IGV ETF	iShares Expanded Tech-Software Sector ETF	111.10	69	+39.2	+0.21	+0.50	-0.45	538K
TQQQ ETF	ProShares UltraPro QQQ	84.47	99	+17.4	+0.49	+0.37	-0.21	447K
EWY ETF	iShares MSCI South Korea ETF	187.03	65	-5.1	+0.20	+0.62	-0.66	393K
XLI ETF	State Street Industrial Select Sector SPDR ETF	171.57	22	+19.8	-0.28	+0.77	-0.74	379K
ASHR ETF	Xtrackers Harvest CSI 300 China A-Shares ETF	32.65	2	-0.7	-0.40	+0.26	-0.14	369K
XLV ETF	State Street Health Care Select Sector SPDR ETF	166.96	31	-21.0	-0.06	+0.34	-0.58	308K
XLP ETF	State Street Consumer Staples Select Sector SPDR ETF	81.76	34	+4.1	-0.45	+0.78	-0.60	294K
DIA ETF	State Street SPDR Dow Jones Industrial Average ETF Trust	514.69	43	+30.1	+0.08	+0.66	-0.66	294K
ARKK ETF	ARK Innovation ETF	90.50	77	+9.6	+0.12	+0.57	-0.59	278K
XLY ETF	State Street Consumer Discretionary Select Sector SPDR ETF	111.68	27	+4.9	-0.34	+0.57	-0.26	271K
XBI ETF	State Street SPDR S&P Biotech ETF	150.25	0	-5.5	-0.58	+0.33	-0.25	257K
TSLL ETF	Direxion Shares ETF Trust Direxion Daily TSLA Bull 2X ETF	10.30	77	+57.6	+0.47	+0.46	-0.49	244K
IHI ETF	iShares U.S. Medical Devices ETF	50.81	23	-4.7	-0.71	+0.28	-0.09	213K
XLK ETF	State Street Technology Select Sector SPDR ETF	202.11	96	+6.4	+0.33	+0.32	-0.14	212K
RSP ETF	Invesco S&P 500 Equal Weight ETF	212.14	55	+51.4	+0.07	+0.50	-0.31	204K
JETS ETF	U.S. Global Jets ETF	28.07	66	-19.7	+0.06	+0.77	-0.92	196K
MSOS ETF	AdvisorShares Pure US Cannabis ETF	4.46	54	-16.2	+0.51	+0.57	-0.50	176K
SOXL ETF	Direxion Daily Semiconductor Bull 3X ETF	163.83	94	+3.7	+0.32	+0.42	-0.51	171K
SOXX ETF	iShares Semiconductor ETF	589.14	97	+4.4	+0.36	+0.50	-0.37	164K
XOP ETF	State Street SPDR S&P Oil & Gas Exploration & Production ETF	189.06	25	+22.6	-0.24	+0.67	-0.67	157K
SILJ ETF	Amplify Junior Silver Miners ETF	27.30	48	+41.3	+0.29	+0.51	-0.77	154K
VXX ETF	iPath Series B S&P 500 VIX Short-Term Futures ETN	16.77	44	-27.8	-0.11	+0.29	-0.20	144K
SQQQ ETF	ProShares UltraPro Short QQQ	31.75	11	+8.2	+0.21	+0.19	-0.33	142K
ARKG ETF	ARK Genomic Revolution ETF	51.68	20	-12.9	-0.19	+0.43	-0.29	136K
XRT ETF	State Street SPDR S&P Retail ETF	83.03	36	-3.9	-0.24	+0.43	-0.56	130K
SPXS ETF	Direxion Daily S&P 500 Bear 3x ETF	23.23	6	-11.8	+0.12	+0.32	-0.60	127K
COPX ETF	Global X Copper Miners ETF (NEW)	86.33	71	+41.8	+0.42	+0.81	-0.78	126K
SCHD ETF	Schwab US Dividend Equity ETF	32.81	4	+1.4	-0.13	+0.34	-0.61	120K
URA ETF	Global X Uranium ETF	41.86	20	+4.8	-0.18	+0.28	-0.39	119K
MAGS ETF	Roundhill Magnificent Seven ETF	73.95	89	+15.8	+0.51	+0.23	-0.19	110K
XLB ETF	State Street Materials Select Sector SPDR ETF	49.70	24	+23.1	-0.16	+0.57	-0.58	104K
NVDL ETF	GraniteShares ETF Trust GraniteShares 2x Long NVDA Daily ETF	40.24	82	+17.7	+0.75	+0.54	-0.57	100K
FEZ ETF	State Street SPDR EURO STOXX 50 ETF	66.77	0	-1.4	-0.77	+0.53	-0.61	98K
KORU ETF	Direxion Daily MSCI South Korea Bull 3X ETF	21.19	32	+0.9	-0.11	+0.19	-0.39	81K
EWJ ETF	iShares MSCI Japan ETF	99.38	30	+24.7	-0.13	+0.91	-0.93	80K
IEI ETF	iShares 3-7 Year Treasury Bond ETF	113.34	81	+21.3	+0.84	+0.58	-0.94	79K
MUB ETF	iShares National Muni Bond ETF	100.98	37	-7.9	-0.50	+0.04	-0.01	78K
IYR ETF	iShares U.S. Real Estate ETF	95.14	17	-11.4	-0.39	+0.78	-0.79	75K
GDXJ ETF	VanEck Junior Gold Miners ETF	113.67	4	+0.3	-0.38	+0.19	-0.27	65K
TMF ETF	Direxion Daily 20+ Year Treasury Bull 3X ETF	25.41	43	+18.4	-0.05	+0.11	-0.42	65K
UVXY ETF	ProShares Ultra VIX Short-Term Futures ETF	16.04	34	+10.7	+0.43	+0.38	-0.40	59K
XHB ETF	State Street SPDR S&P Homebuilders ETF	97.38	41	-11.5	-0.15	+0.38	-0.67	59K
VOO ETF	Vanguard S&P 500 ETF	716.60	92	+75.7	+0.50	+0.53	-0.51	58K
BITO ETF	ProShares Bitcoin ETF	11.43	67	+22.3	+0.63	+0.38	-0.69	57K
EMB ETF	iShares J.P. Morgan USD Emerging Markets Bond ETF	90.96	40	-0.4	-0.65	+0.71	-0.24	56K
JEPQ ETF	J.P. Morgan Nasdaq Equity Premium Income ETF	61.26	72	-17.8	+0.52	+0.49	-0.64	54K
TNA ETF	Direxion Daily Small Cap Bull 3x ETF	59.43	12	+9.2	-0.06	+0.54	-0.64	53K
SNXX ETF	Tradr 2X Long SNDK Daily ETF	15.02	7	-23.6	-0.49	+0.14	-0.00	52K
VGT ETF	Vanguard Information Technology ETF	129.84	41	+10.4	+0.84	+0.37	-0.46	50K
QQQI ETF	NEOS Nasdaq 100 High Income ETF	56.73	96	+15.5	+0.55	+0.21	-0.09	49K
BKLN ETF	Invesco Senior Loan ETF	20.51	93	-1.2	-0.39	+0.99	-0.99	48K
SOXS ETF	Direxion Daily Semiconductor Bear 3X ETF	29.70	96	+21.6	+0.56	-0.76	-0.54	48K
XLC ETF	State Street Communication Services Select Sector SPDR ETF	111.75	32	+9.4	-0.06	+0.65	-0.67	45K
XME ETF	State Street SPDR S&P Metals & Mining ETF	108.08	52	+45.4	+0.01	+0.63	-0.80	45K
EWT ETF	iShares MSCI Taiwan ETF	117.75	96	+3.8	+0.81	+0.64	-0.51	45K
EWC ETF	iShares MSCI Canada ETF	59.12	53	+21.3	-0.31	+0.71	-0.55	43K
SHY ETF	iShares 1-3 Year Treasury Bond ETF	81.14	7	-1.9	-0.54	+0.98	-0.75	43K
EWG ETF	iShares MSCI Germany ETF	41.49	28	-11.5	-0.41	+0.60	-0.60	38K
ITB ETF	iShares U.S. Home Construction ETF	87.00	79	+32.0	+0.21	+0.55	-0.68	37K
KBE ETF	State Street SPDR S&P Bank ETF	63.90	3	+1.7	-0.82	+0.91	-0.81	36K
BITX ETF	2x Bitcoin ETF	20.44	45	+4.2	+0.35	+0.41	-0.51	36K
MTUM ETF	iShares MSCI USA Momentum Factor ETF	324.44	56	-17.5	-0.44	+0.76	-0.90	36K
XAR ETF	State Street SPDR S&P Aerospace & Defense ETF	233.50	1	-1.4	-0.95	+0.86	-0.33	33K
SIL ETF	Global X Silver Miners ETF (NEW)	86.66	0	-5.5	-0.25	+0.33	-0.38	33K
UPRO ETF	ProShares UltraPro S&P 500	156.63	100	+38.2	+0.65	+0.17	-0.09	31K
LITX ETF	Tradr 2X Long LITE Daily ETF	45.63	97	+18.7	+0.98	-0.86	+0.89	31K
UVIX ETF	2x Long VIX Futures ETF	33.34	11	-58.8	-0.06	+0.43	-0.45	31K
SPYM ETF	State Street SPDR Portfolio S&P 500 ETF	91.75	24	+14.6	+0.04	+0.49	-0.73	30K
SVIX ETF	-1x Short VIX Futures ETF	30.01	91	+0.2	+0.41	+0.04	-0.21	30K
CONL ETF	GraniteShares ETF Trust GraniteShares 2x Long COIN Daily ETF	5.62	27	-5.5	-0.42	+0.12	-0.25	27K
KBWB ETF	Invesco KBW Bank ETF	87.65	5	-14.9	-0.31	-0.46	+0.36	27K
VTI ETF	Vanguard Morningstar Total Stock Market ETF	382.64	99	+50.0	+0.70	+0.58	-0.79	27K
AMDL ETF	GraniteShares 2x Long AMD Daily ETF	89.41	99	+6.0	+0.68	+0.80	-0.53	25K
XLRE ETF	State Street Real Estate Select Sector SPDR ETF	41.08	45	+5.1	-0.20	+0.58	-0.51	24K
DGRO ETF	iShares Core Dividend Growth ETF	76.55	31	+3.7	+0.70	+0.85	-0.95	24K
INDA ETF	iShares MSCI India ETF	46.72	8	+1.0	-0.35	+0.53	-0.50	23K
QQQM ETF	Invesco NASDAQ 100 ETF	313.05	48	+30.6	+0.20	+0.11	-0.35	23K
METU ETF	Direxion Shares ETF Trust Direxion Daily META Bull 2X ETF	32.11	61	+18.4	+0.49	+0.32	-0.40	21K
ICLN ETF	iShares Global Clean Energy ETF	17.54	97	+4.5	+0.89	+0.81	-0.71	21K
TBT ETF	ProShares Trust UltraShort Lehman 20+ Year Treasury	42.78	90	+12.9	+0.56	+0.28	-0.45	21K
NAIL ETF	Direxion Daily Homebuilders & Supplies Bull 3X ETF	27.98	32	+1.1	-0.42	+0.46	-0.57	20K

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Percentiles compare each name with its own daily history, not with other names. Tilts run from −1 to +1. Snapshots refresh during the trading day.

Methodology

For every optionable name we add up the gamma of each open contract within about 15% of the current price and about 90 days to expiry, weighted by open interest. Options dealers’ actual books are not public, so the estimate uses a standard simplifying assumption about which side they hold: long the open calls and short the open puts. The result is net dealer gamma. Because its size scales with how much open interest a chain carries, a raw number for one stock can’t be compared with another’s. Instead, each day’s value is ranked against the same name’s own history to give the net gamma percentile.

What the columns mean

Net γ percentile: today’s estimate ranked against the name’s history, 0 to 100. 5-day chg: the change in that percentile, in points, versus five snapshots earlier. Gamma tilt: call gamma minus put gamma, divided by the total. Vanna tilt and charm tilt: how lopsided the estimated hedge would be to a change in implied volatility and to the passage of time. Open interest: contracts in the tracked strike and expiry window.

Who is included

Stocks and ADRs worth at least $1 billion, plus ETFs, with at least 5,000 open contracts in the tracked window and about six months of history. Names with less history are left out because a percentile over a short record isn’t meaningful.

This page describes estimated positioning and where it sits historically. It does not predict price direction or volatility, the dealer-side assumption behind it can be wrong for any given name, and it is not investment advice or a trading signal. See Terms.

Frequently asked questions

What is net dealer gamma?

An estimate of the aggregate gamma held by options market makers across a stock's option chain, weighted by open interest, for contracts within about 15% of the stock price and about 90 days to expiry. Dealer positions are not public, so it uses a standard simplifying assumption: dealers are treated as long the calls and short the puts that are open.

What does the net gamma percentile mean?

It ranks today's net dealer gamma for a name against that same name's own daily history, from 0 (the lowest reading on record) to 100 (the highest). Raw gamma is not comparable across names because it scales with how much open interest each chain carries, so the percentile is the comparable number.

What are the gamma, vanna and charm tilts?

Each tilt runs from -1 to +1 and shows how lopsided the estimated dealer exposure is. Gamma tilt compares call gamma with put gamma. Vanna tilt describes how the hedge would shift if implied volatility changed, and charm tilt how it would shift with the passage of time.

Is this a trading signal?

No. The page describes estimated positioning and where it sits historically. It is not a forecast of price direction or volatility, and the simplifying assumption behind it means actual dealer books can differ. Treat it as context, not a recommendation.

Which stocks are included?

Optionable stocks and ADRs with a market value of at least $1 billion, plus ETFs, that have at least 5,000 open contracts in the tracked window and roughly six months of history.

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