Direxion Flight to Safety Strategy ETF (FLYT) Gamma Exposure (GEX) & Greeks

Gamma exposure (GEX) analysis shows how options positioning creates dealer hedging pressure across strikes. Includes delta, vanna, charm, vomma, and vega exposure by strike price.

Direxion Flight to Safety Strategy ETF (FLYT) operates in the Financial Services sector, specifically the Asset Management industry, with a market capitalization near $15.0M, listed on AMEX, carrying a beta of 0.00 to the broader market. The fund, under normal circumstances, invests at least 80% of its assets in the securities that comprise the index. public since 2020-02-05.

Snapshot as of May 15, 2026.

Spot Price

$26.86

Net Gamma

-$100

Net Delta

-$319.4K

Net Vega

-$444

Gamma Concentration

0.18

As of May 15, 2026, Direxion Flight to Safety Strategy ETF (FLYT) has negative net gamma exposure of $100 under the standard dealer-hedging convention. Net delta exposure is -$319.4K. Negative GEX means dealers are net short gamma: they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.

FLYT Strategy Sizing in the Current GEX Regime

Direxion Flight to Safety Strategy ETF is in a negative dealer-gamma regime ($100). Net dealer delta of -$319.4K sets the size of the directional hedging flow that fires as spot moves. In this regime, momentum and breakout strategies fit the regime: long calls or puts, ratio backspreads, calendar spreads positioned for vol expansion. Realized volatility tends to overshoot implied during negative-gamma stretches, hurting indiscriminate short-vol exposure. The gamma-flip level - the spot price at which net dealer gamma changes sign - is the most actionable anchor for sizing: through-flip moves trigger qualitatively different hedging behavior than within-regime moves, so risk-defined structures sized to the current spot may not stay sized correctly if a flip is near.

Learn how gamma exposure is reported and how to read the data →