Where is dealer gamma on ARM?
Arm Holdings plc · ARM · data through 2026-09-30 · free to read
As of 2026-09-30, dealer gamma on Arm Holdings plc (ARM) is negative, so dealer hedging amplifies moves. The sign has flipped 7 times over the window shown. A flip matters more than the level: it changes whether hedging flow works with the move or against it.
What dealer gamma has done
Total dealer gamma exposure on ARM over 38 sessions, 2026-08-10 to 2026-09-30. The sign flipped 7 times in that window.
When dealer gamma is positive, hedging leans against the move and tends to compress the range. When it is negative, hedging runs with the move and tends to extend it. The flip is the event worth watching, not the level.
Common questions about ARM
What is dealer gamma exposure on ARM?
It is the aggregate gamma the market makers who sold ARM options are carrying. It matters because they hedge it, and that hedging is real buying and selling in the stock. As of 2026-09-30 it is negative.
What happens when ARM gamma is positive versus negative?
Positive gamma means dealers sell into strength and buy weakness, which compresses the range and makes moves fade. Negative gamma means they do the opposite, selling weakness and buying strength, which extends moves. Same stock, opposite character, depending only on which side dealers are on.
Why do the sign flips matter more than the level?
Because the flip is when the behaviour changes. ARM has flipped 7 times across the window shown here. A large positive number tells you little on its own; crossing zero tells you hedging flow just switched from working against the move to working with it.
Can I trade ARM on gamma alone?
No. Gamma describes how hedging flow will behave if price moves, never whether it will. It changes what a move looks like once it starts. Treat it as the terrain, and get direction from somewhere else.
Is ARM in positive or negative gamma right now?
As of 2026-09-30, negative: dealer hedging leans with moves.
How many times has ARM gamma flipped sign recently?
7 times across the window shown on this page. Each flip marks a day when dealer hedging switched from damping moves to extending them, or back. Frequent flips usually mean the stock is trading near the strikes where dealer positioning is concentrated.
Where do the ARM gamma numbers come from?
From open interest by strike in Arm Holdings plc options after each close, weighted by each strike's gamma and by the usual assumption that dealers sit on the other side of customer flow. It is an estimate, rebuilt nightly, never a live reading of any dealer's book.
What is the difference between ARM gamma and the SPY gamma map?
Same math, different book. The SPY map aggregates the index options that most hedging runs through, so it describes the whole market's terrain. The ARM figure describes only Arm Holdings plc, and single names flip more often because their open interest is thinner.
More on ARM
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