{"slug":"what-is-option-gamma","qid":"gamma_money","label":"SPY call gamma peaks at the money (~30 days out, 2026-07-13)","post_title":"What Is Option Gamma? Delta's Accelerator","post_url":"/blog/what-is-option-gamma#q-gamma_money","columns":["moneyness","avg_gamma"],"rows":[{"moneyness":"deep ITM","avg_gamma":0.0034},{"moneyness":"ITM","avg_gamma":0.008},{"moneyness":"ATM","avg_gamma":0.0117},{"moneyness":"OTM","avg_gamma":0.0114},{"moneyness":"deep OTM","avg_gamma":0.0034}],"shape":"ranking","sql":"SELECT multiIf((strike_price/underlying_close-1)<-0.04,'deep ITM',\n               (strike_price/underlying_close-1)<-0.015,'ITM',\n               (strike_price/underlying_close-1)<0.015,'ATM',\n               (strike_price/underlying_close-1)<0.04,'OTM','deep OTM') AS moneyness,\n       round(avg(gamma), 4) AS avg_gamma\nFROM global_markets.options_greeks\nWHERE date = '2026-07-13' AND underlying_symbol = 'SPY' AND option_type = 'C'\n  AND days_to_expiry BETWEEN 25 AND 40\nGROUP BY moneyness ORDER BY avg(strike_price/underlying_close)","computed_at":"2026-07-15T06:07:49.914660+00:00","elapsed":0.00205211}