# NDX — Max Pain / GEX · GammaGrid demo **Gamma weather: Storm.** This chain has no gamma flip within 25% of the price, so only the sign of gamma is known — negative, hedging amplifies moves. *(next 30 days · 22 expiries)* | Level | Value | |---|---| | Price | 27,817.15 | | Call wall | 29,675.00 | | Put wall | 20,000.00 | | Gamma flip | — | | Net GEX | -1.6 M | ## Max pain and dealer gamma by expiry Nearest expiries first. Max pain is the strike where open interest would expire worth the least; the expected move is one standard deviation from at-the-money implied volatility; net GEX is the dealers' estimated gamma exposure for that expiry, positive damps moves and negative amplifies them. | Expiry | Max pain | Expected move | Range | Call wall | Put wall | Net GEX | Contracts | |---|---|---|---|---|---|---|---| | 2026-11-09 | 27,350.00 | ±0.8% | 27,607.87 – 28,026.43 | 27,350.00 | 26,000.00 | 0.9 M | 598 | | 2026-11-10 | 28,375.00 | ±1.7% | 27,334.62 – 28,299.69 | 30,200.00 | 29,500.00 | -0.4 M | 382 | | 2026-11-11 | 29,200.00 | ±2.2% | 27,214.64 – 28,419.67 | 29,800.00 | 31,000.00 | -0.2 M | 299 | | 2026-11-12 | 28,500.00 | ±2.9% | 27,002.54 – 28,631.76 | 30,100.00 | 25,000.00 | -0.0 M | 214 | | 2026-11-13 | 28,750.00 | ±3.2% | 26,931.17 – 28,703.13 | 30,400.00 | 24,000.00 | -0.2 M | 338 | | 2026-11-16 | 29,000.00 | ±3.6% | 26,806.27 – 28,828.03 | 31,550.00 | 24,000.00 | -0.1 M | 154 | 42 expiries in the chain; the page lists every one. ## About these numbers Computed by GammaGrid from the NDX options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:31:30.441076 UTC; this page follows the collection, roughly every fifteen minutes while the market is open. Other views of NDX: [Overview](https://app.gammagrid.io/demo/t/NDX.md) · [GEX Heatmap](https://app.gammagrid.io/demo/t/NDX/heatmap.md) · [Volatility (IV)](https://app.gammagrid.io/demo/t/NDX/volatility.md). Canonical page: · The demo shows the free list only; a GammaGrid account watches any US-listed ticker with options, replays earlier collections and opens every contract: