What is the SpotGamma Gamma Index? This is a proprietary measurement of the total amount of gamma in the underlying asset. Why does the SpotGamma Gamma Index matter? A large positive figure estimates future volatility is low. A large negative figure indicates volatility may be high. The range is from 4 to –4. How to use the SpotGamma Gamma Index Where there is a large positive reading, traders may elect to play smaller moves in markets, and estimate that current prices are well supported by options market maker hedging. A large negative reading infers much larger price movement and rapid directional changes. We provide an estimate of this volatility with our “SG Implied 1 Day Move” metric. Subscribers can locate each day's Gamma Index in the Daily Founder's Notes. Related articles What is the SpotGamma Implied 1 Day Move (Imp. 1 Day Move)? What is Gamma Notional? What is SpotGamma Hedge Wall? What is the SpotGamma Absolute Gamma Strike? What is Gamma, Market Gamma and/or Total Market Gamma?