NVDA and TSLA closed below their gamma flip. Five mega-caps closed above their call wall.

Ran dealer gamma on the 14 most-traded single names at Friday's close. They split cleanly into two groups, which I haven't seen this stark in a while.

# BELOW THE FLIP — negative gamma, dealers chase the move, so ranges break instead of holding:

\- TSLA — spot 348.12, flip 361.51 (3.70% below)

\- NVDA — spot 217.88, flip 222.84 (2.23% below)

\- AVGO — spot 369.12, flip 372.85 (1.00% below)

\- AMD — spot 466.04, no clean flip returned (call wall 475, put wall 465)

# ABOVE THE CALL WALL — positive gamma, dealers damp moves, and the wall they're hedging against is now overhead:

\- MSFT — spot 513.05, call wall 505 (1.59% through)

\- MU — spot 930.80, call wall 920 (1.17% through)

\- AMZN — spot 266.16, call wall 265 (0.44% through)

\- GOOGL — spot 346.20, call wall 345 (0.35% through)

\- AAPL — spot 320.13, call wall 320 (0.04% through, sitting right on it)

The rest (META 578.35 vs 580 wall, PLTR, COIN, NFLX, SMCI) are in positive gamma below their walls, which is the boring healthy configuration.

What I take from it, and this is where you should disagree with me: the two most-watched names in the market are the two in the regime where moves overshoot what IV implies. TSLA nearly 4% under its flip means a gap either direction gets extended rather than absorbed. Meanwhile the five names that led the tape are all past the strike where dealer hedging turns from tailwind into resistance. Not a reversal signal, just a worse spot to buy a breakout than it was 2% ago.

Happy to run any other ticker if you want its flip, walls and max pain — drop it in the comments.