What is Key Gamma Strike? Key Gamma Strike is this is the strike with the largest total gamma position in an underlying stock. Why does Key Gamma Strike matter? Hedging activity will likely be most influenced by this strike, and therefore increased hedging activity will occur when the stock price is near this strike. How to use Key Gamma Strike This strike is considered a support or resistance line for the stock. Related articles What is Key Delta Strike? What is SpotGamma Hedge Wall? What are Zero Gamma Levels? What is 25D Risk Reversal? What is CP Gamma Tilt?