# GLD — Max Pain / GEX · GammaGrid demo **Gamma weather: Clear.** Positive gamma with the flip far off — dealer hedging is damping moves. *(next 26 days · 9 expiries)* | Level | Value | |---|---| | Price | 398.77 | | Call wall | 430.00 | | Put wall | 400.00 | | Gamma flip | 414.04 | | Net GEX | 192.4 M | ## Max pain and dealer gamma by expiry Nearest expiries first. Max pain is the strike where open interest would expire worth the least; the expected move is one standard deviation from at-the-money implied volatility; net GEX is the dealers' estimated gamma exposure for that expiry, positive damps moves and negative amplifies them. | Expiry | Max pain | Expected move | Range | Call wall | Put wall | Net GEX | Contracts | |---|---|---|---|---|---|---|---| | 2026-09-14 | 405.00 | ±1.3% | 393.50 – 404.04 | 420.00 | 390.00 | -0.3 M | 38 | | 2026-09-15 | 403.00 | ±1.8% | 391.79 – 405.75 | 420.00 | 392.00 | 0.4 M | 59 | | 2026-09-16 | 405.00 | ±2.5% | 388.71 – 408.83 | 411.00 | 415.00 | 0.2 M | 55 | | 2026-09-17 | 405.00 | ±3.0% | 386.61 – 410.93 | 415.00 | 405.00 | -4.5 M | 35 | | 2026-09-18 | 400.00 | ±3.3% | 385.58 – 411.96 | 430.00 | 400.00 | 202.4 M | 433 | | 2026-09-25 | 405.00 | ±4.5% | 380.81 – 416.73 | 460.00 | 390.00 | -5.5 M | 260 | 24 expiries in the chain; the page lists every one. ## About these numbers Computed by GammaGrid from the GLD options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-09-13T04:09:44.496588 UTC; this page follows the collection, roughly every fifteen minutes while the market is open. Other views of GLD: [Overview](https://app.gammagrid.io/demo/t/GLD.md) · [GEX Heatmap](https://app.gammagrid.io/demo/t/GLD/heatmap.md) · [Volatility (IV)](https://app.gammagrid.io/demo/t/GLD/volatility.md). Canonical page: · The demo shows the free list only; a GammaGrid account watches any US-listed ticker with options, replays earlier collections and opens every contract: