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What dealer gamma means at the hour scale

2026-10-27 · graded, live

The hour read speaks in one structure state and is silent in every other. In that state the next hour went with the day call 62% of the time and 68% at two hours, on 23 symbol-days. Walls, momentum and the magnet did not predict the hour.

The question

Members want sixty minutes, not a day: a read that says which way the next hour leans so a scalp can ride a trend instead of guessing. We asked the dealer-gamma structure that question minute by minute, on recorded data, across every combination of regime, line side and day call.

The answer

Exactly one structure state answered it, in both windows we tested.

Window	Next 60 min with the call	Avg move	Next 120 min	Sample
Live record	62.4%	+4.1 bp	67.6%	3,464 minutes, 23 symbol-days, 2026-08-14 to 2026-10-26
60-session court	66.6%	+5.6 bp	70.8%	2026-07-28 to 2026-10-26

That state is the hour read members see. In every other state the read says WAIT and names the reason, because in every other state the next hour graded at or below a coin. By month in the live record: September 67.6% on 16 days, October 57.3% on 6 days. October is thin and weaker; the read stays on the screen only while both halves of its window hold above 60%.

Rule v2, from November 3

The hour read now speaks when the trading desk's own state sits on the gated day call's side, and says WAIT otherwise; the structure cell above stays as context. The court and the record are in The hour read, rule v2.

What did not hold

Negative gamma. No hour-scale read has cleared the bar below the line, in either direction.
Walls. Neither wall rejected price within the hour more often than chance, and neither broke more often than chance. Walls are where hedging flow concentrates; they are not turn signals on their own.
Recent momentum. The move of the last few minutes was not a predictor of the next hour.
The magnet at 60 minutes. The largest-open-interest strike is a day-scale destination, not an hour-scale call. The Day Map shows it as a level, never as a direction.

Method

Each symbol-minute is labelled with its structure state and the day call in force; the outcome is the sign of the move 60 and 120 minutes later; cells are graded in the first and second halves of the window separately. Minutes before 10:30 and after 15:00 are excluded, so the hour read never speaks before the day call exists or into the close. The definition of the state that speaks is not published.

Educational only — not financial advice. Options trading involves substantial risk.