How to read the chart
- Green bars are call gamma, red bars are put gamma at each strike near the current price.
- Call wall: the strike with the most call gamma. Price often stalls as it approaches it.
- Put wall: the strike with the most put gamma. Price often finds buyers near it.
- Gamma flip: where cumulative net gamma turns positive. Above it moves tend to be calmer; below it they tend to be faster.
Why it matters for NVDA
NVIDIA options open interest is enormous and spread across many strikes, so its walls are often wide zones. Watch how they shift into earnings, when open interest builds at round-number strikes.
Treat walls as zones to plan around, not lines that must hold. Combine them with the trend, earnings dates and unusual options flow before acting.
Ways traders use it (examples, not advice)
- Set covered-call strikes near or above the call wall, where upside has tended to slow.
- Place stops beyond the put wall rather than right on it, where price often wicks.
- Expect bigger daily ranges when price is below the gamma flip, and size smaller.