NLY gamma levels.

Where NLY tends to stick and where it slips: the call wall, put wall, gamma flip and Volt, 15-minute delayed and free.

• NLY $21.96 · up 0.09% on the day · negative gamma overall (moves tend to extend)
• Levels: ★ Volt — biggest level 22 (above price · 0.04 / 0.18% away); ↯ Surge — live flow 21.5 (below price · 0.46 / 2.09% away); ‖ call wall — ceiling, sticky 24 (above price · 2.04 / 9.29% away); ‖ put wall — slippery, but above price · not a floor from here 22 (above price · 0.04 / 0.18% away); ⚡ gamma flip 22.7 (above price · 0.74 / 3.37% away); ↘ Reversal 24 (above price · 2.04 / 9.29% away)
• Expected move today ±0.59 · pre-open reference
• Strikes nearest the money (high to low): 23 negative, 22.5 positive, 22 negative, 21.5 negative, 21 negative, 20.5 negative
• Weekly magnet confluence: the next 4 weekly expirations put their biggest positive-gamma level above price (agreement of positioning, not a prediction).
• Since yesterday's close, positioning grew at 21.5, 22 and faded at 24.
• Event pricing: the options market prices an unusually large move into 2026-10-02 (±$1.50 by that date, about 1.8x this board's normal daily move). On single names this is usually an earnings report. Descriptive of the market's own pricing, never a forecast.
• ATM implied volatility 20.4%