What is Gamma in Next Expiration? Gamma in Next Expiration is the estimated amount of total gamma for all options in the underlying stock that is set to expire at the next options expiration. Why does Gamma in Next Expiration matter? Options market maker activity may increase as the amount of gamma increases. How to use Gamma in Next Expiration When a large amount of gamma expires (generally >25%) then the underlying stock may shift away from current prices. Related articles What is Highest Gamma Expiration Date? What is Delta in Next Expiration? What is the Gamma Pinning Effect? What is Highest Delta Expiration Date? What is SpotGamma Hedge Wall?