GAMMA & VOLATILITY$NVDANvidia CorpOpen ticker analysis →The archived NVDA gamma table prints a $215 peak strike, $14.39M (negative) signed exposure estimate and a $210.96 stock reference. The estimate depends on a sign convention; actual dealer holdings and a pinning probability were not supplied.
What happened
The expiration was printed as Oct 26 (2 days), across 104 listed chain contracts. The table's premium value is a saved detector estimate, not a reconstruction of participants' execution cash flows.
Why it matters
The printed $215.00 peak strike differs from the $210.96 stock reference by ($215.00 − $210.96) ÷ $210.96 × 100 = +1.9%. This distance is arithmetic, not the probability that price will reach or remain at the strike.
The saved metadata says dealers_short_calls_long_puts, while the detector calculation uses call-positive/put-negative signs. Those are different inventory assumptions. Retain the number as the recorded convention-based estimate; the sign cannot establish actual dealer hedging until this labeling conflict is resolved.
A hypothetical hedging mechanism cannot establish actual buying, selling, support or resistance. The printed remaining-days count belongs to the archived record; it is not a current countdown.
The numbers
| Stock price | $210.96 |
|---|---|
| Expiration | Oct 26 (2 days) |
| Peak gamma strike | $215 |
| Strike vs. stock | 1.9% above |
| Net gamma exposure | $14.39M (negative) |
| Premium traded | $75.08M |
| Contracts in chain | 104 |
| 40-session range | $208.93, $243.37 |
| 20-day average price | $225.54 |
| 20-session change | -6.3% |
Three ways this could play out
A later timestamped price above $215 would be an observation above the listed peak strike. Compare the next chain estimate; the crossing does not identify dealer purchases.
A later timestamped price below $215 would be an observation below that reference, not proof that support failed or dealers sold.
A later close near $215 would show proximity only. It would not establish that gamma caused the price or make the strike a predicted expiration pin.
What to watch next
- Compare the next reported peak strike with $215 and keep each chain's observation time and expiry separate.
- Check the formula and long/short inventory assumptions before interpreting a sign change. Open interest alone does not disclose the inventory of dealers.
