What is Call Gamma? Call Gamma is the sum of all call option gamma for all available strikes. Why does Call Gamma matter? A large call gamma position infers that options market makers will more actively hedge as the stock moves higher. How to use Call Gamma Stocks with a large call gamma position may have a bullish edge. Related articles What is Put Gamma? What is Gamma, Market Gamma and/or Total Market Gamma? What is Net Gamma? What is Total Call OI (Open Interest)? What is Key Delta Strike?