IWM
iShares Russell 2000 ETFPrices and gamma are point-in-time snapshots taken at the time shown. Dealer positioning is an assumption, not an observable: open interest shows that a contract exists, never which side a dealer holds. How dealer gamma is computed.
LIVE MARKET SNAPSHOT
| Call Wall | 290 |
| Put Wall | 285 |
| GEX Flip | 287.5 |
| Vol Trigger | 287.5 |
| Net GEX | -$5.98B |
Cached snapshot as of 2026-09-16 06:05 UTC, live streaming data in the terminal.
IWM DEALER GAMMA BY STRIKE
Part of the SquawkFlow GEX Calculator: gamma by strike for any US stock. Compare with SPX GEX.
Net gamma exposure at each strike near IWM's spot price, signed from the dealer perspective, calls positive, puts negative. Green strikes are where hedging tends to dampen moves; red is where it tends to amplify them. Dealer positioning is an assumption rather than an observable, so treat these as a map of where hedging pressure concentrates, not a forecast.
Unit: USD of dealer gamma per 1 percent move in spot. A window of the IWM option chain, not the whole book: the 30 strikes nearest spot out of 93 seen, 2,614 contract rows spanning 33 expirations. Gamma is taken as the chain publishes it per contract; nothing here is re-priced. Crossed with the open interest carried on that chain.
New to these levels? Start with the call wall and put wall, or the zero gamma level where the sign of dealer hedging flips.
| Strike | Net GEX | Call GEX | Put GEX | Concentration |
|---|---|---|---|---|
| 273 | -$48.4M | $522.7K | -$48.9M | |
| 274 | -$87.0M | $551.2K | -$87.6M | |
| 275 | -$388.0M | $29.3M | -$417.4M | |
| 276 | -$37.2M | $2.7M | -$39.9M | |
| 277 | -$80.6M | $3.5M | -$84.1M | |
| 277.5 | $3.0M | $7.1M | -$4.2M | |
| 278 | -$51.5M | $7.9M | -$59.4M | |
| 279 | -$116.8M | $12.1M | -$128.9M | |
| 280 | -$724.6M | $130.1M | -$854.7M | |
| 281 | -$140.4M | $4.1M | -$144.5M | |
| 282 | -$316.8M | $3.1M | -$319.9M | |
| 282.5 | -$2.3M | $39.4K | -$2.3M | |
| 283 | -$537.9M | $6.9M | -$544.8M | |
| 284 | -$489.2M | $8.8M | -$498.0M | |
| 285SPOTPUT WALL | -$1.34B | $194.9M | -$1.53B | |
| 286 | -$434.3M | $8.7M | -$442.9M | |
| 287 | -$141.2M | $24.0M | -$165.2M | |
| 287.5GEX FLIP | $496.9K | $2.3M | -$1.8M | |
| 288 | -$368.0M | $45.3M | -$413.3M | |
| 289 | -$176.5M | $45.2M | -$221.8M | |
| 290CALL WALL | -$509.4M | $260.8M | -$770.1M | |
| 291 | -$32.2M | $31.0M | -$63.2M | |
| 292 | $6.0M | $56.4M | -$50.4M | |
| 292.5 | $1.5M | $1.8M | -$299.2K | |
| 293 | -$31.7M | $37.5M | -$69.2M | |
| 294 | $15.8M | $33.1M | -$17.3M | |
| 295 | $2.2M | $170.5M | -$168.2M | |
| 296 | $24.5M | $29.9M | -$5.3M | |
| 297 | $10.4M | $14.3M | -$4.0M | |
| 297.5 | $2.8M | $2.8M | $0 |
These levels were captured September 16, 2026 from the open interest carried on the option chain. New levels post before each market open. Today's SPX gamma levels.
ABOUT IWM
IWM tracks the Russell 2000 index, the benchmark for U.S. small-cap stocks. It provides exposure to approximately 2,000 smaller companies across all sectors, making it more domestically focused and rate-sensitive than large-cap indices. IWM is the primary vehicle for trading small-cap momentum and the broad economic cycle.
WHY TRACK IWM ON SQUAWKFLOW
IWM options flow is the primary signal for risk appetite and small-cap rotation. Unusual call buying ahead of Fed meetings often signals expectations for dovish rate decisions that benefit rate-sensitive small caps.
IWM DATA ON SQUAWKFLOW
Options Flow
IWM options flow, unusual activity, and volume concentrations from the session chain
Latest Snapshot
Last IWM price, change, volume, and the current dealer-gamma regime
GEX Dashboard
IWM gamma exposure levels, call/put walls, and GEX flip
AI Narration
AI-powered analysis of IWM market microstructure in real time
News Sentiment
IWM news with AI sentiment scoring and impact analysis
Sector Context
ETFs/Indices sector rotation and relative strength vs peers
Track IWM in the Terminal
Options flow, per-strike dealer gamma, key levels, and AI narration, free.
Open Terminal →LEARN MORE
A practical guide to reading dealer positioning data and understanding how market maker flows affect price action.
What is Gamma Exposure (GEX)? A Complete GuideUnderstanding gamma exposure and how dealer hedging creates support and resistance levels in the market.