What is SpotGamma Hedge Wall? The SpotGamma Hedge Wall is the price of a 25 delta call – the price of a 25 delta put, both with 30 days to expiration. Why does the SpotGamma Hedge Wall matter? This reflects the demand of put options vs call options. How to use the SpotGamma Hedge Wall Sharp changes in this ratio indicate a change in investor demand. When the ratio shifts towards 0 it indicates call demand, and away from zero indicates traders are placing a higher price on put options. Related articles What are Zero Gamma Levels? What is Gamma Notional? What is Volatility Trigger™? What is the SpotGamma Gamma Index? What is Call Wall Strike?