Markets · ES

ES gamma exposure: dealer levels for S&P 500 futures

Zanshin Flow shows dealer gamma for ES futures from ES's own futures options, tracked as a separate book so the levels are live overnight, and from SPX and SPY options mapped onto ES prices with a live basis.

NQ, SPX, ES and RTY spot over the gamma field in Zanshin Flow: call walls, put walls, the flip and the king strike on each — NQ, SPX, ES and RTY on one page: each futures market's own gamma field, walls and flip.

SPX levels, at ES prices

Most of the S&P's options positioning is in SPX and SPY, but you trade ES, and ES sits a basis away from SPX. Zanshin Flow moves every SPX and SPY level onto ES with a live basis, so a 7,750 SPX call wall shows at the ES price it really sits at, not 30 points off.

And ES's own options, overnight

ES options trade on CME almost around the clock. Zanshin Flow reads them as their own book, so overnight and pre-market you see where positioning in the futures market sits, live, not yesterday's cash-session levels frozen in place.

What you see for ES

Gamma by strike under price, with call walls, put walls, the gamma flip and expected-move bands.
Any expiry: today's, each of the next three, all combined, or any mix.
Charm and vanna: the hedging that time decay and implied volatility force, by strike.
The options tape and dealer hedging flow, and Level Check grading the level price is at.

What it isn't

Context, not signals. Walls in our archive hold more often on slow approaches and break more often on fast ones; nothing here is an edge on its own.

Questions

Where can I see gamma levels for ES futures?

Zanshin Flow shows dealer gamma for ES from ES's own futures options and from SPX and SPY options mapped onto ES prices with a live basis. $15 a month after a 3-market-day free trial.

Are SPX gamma levels the same as ES levels?

The strikes are SPX's; the prices aren't. ES trades at a basis to SPX, so Zanshin Flow shifts every SPX and SPY level by the live basis to show it at the ES price.

Can I see ES gamma overnight?

Yes. ES futures options are tracked as their own book, so the levels update overnight and pre-market.

Not financial advice. Zanshin Flow is an analytics tool; nothing on it is a recommendation to buy or sell anything.