Convexity LabsBitcoin gamma exposure today
On 8 November 2026, Bitcoin traded at $75,723 with total options gamma exposure of +$3.5M per 1% move. The gamma flip is at $75,697, so spot is 0.0% above it. Regime: Squeeze.
- BTC spot
- $75,723
- Total GEX / 1%
- +$3.5M
- Gamma flip
- $75,697
- Regime
- Squeeze
Strong negative gamma near spot with a steep profile: hedging is estimated to chase moves, raising squeeze risk. Implied volatility is running at 1.08× 30-day realized volatility (35%).
Main gamma walls
The strikes with the most gamma exposure, ranked by size and closeness to spot.
Above spot
| Strike | GEX / 1% | From spot |
|---|---|---|
| $81,000 | +$21.1M | +7.0% |
| $80,000 | +$16.4M | +5.7% |
| $84,000 | +$10.5M | +10.9% |
Below spot
| Strike | GEX / 1% | From spot |
|---|---|---|
| $74,000 | −$31.3M | -2.3% |
| $75,000 | −$17.9M | -1.0% |
| $72,000 | −$17.1M | -4.9% |
Last 7 days
| Date (UTC) | Spot | Total GEX | Gamma flip | Regime |
|---|---|---|---|---|
| 2026-11-08 | $75,723 | +$3.5M | $75,697 | Squeeze |
| 2026-11-07 | $75,819 | −$1.0M | $76,078 | Squeeze |
| 2026-11-06 | $76,048 | −$25.5M | $76,296 | Squeeze |
| 2026-11-05 | $80,500 | +$281.7M | $76,716 | Total Pin |
| 2026-11-04 | $77,389 | +$71.9M | $76,100 | Long Gamma |
| 2026-11-03 | $77,119 | +$4.3M | $77,000 | Squeeze |
| 2026-11-02 | $78,222 | +$115.9M | $76,539 | Total Pin |
How to read this
Gamma exposure estimates how much options dealers must buy or sell to stay hedged as price moves. Positive values mean hedging tends to dampen moves; negative values mean it tends to amplify them. Figures are in millions of dollars of hedging per 1% move, across every Deribit BTC option expiring within a year, and assume dealers are long calls and short puts — see GEX explained and the methodology. The data is also available as JSON.