# IWM — GEX Heatmap · GammaGrid demo

**Gamma weather: Storm.** Negative gamma and no boundary nearby — dealer hedging amplifies moves. *(next 26 days · 9 expiries)*

| Level | Value |
|---|---|
| Price | 288.89 |
| Call wall | 315.00 |
| Put wall | 285.00 |
| Gamma flip | 244.19 |
| Net GEX | -1.08 B |

## Gamma exposure across expiries

Net dealer gamma per expiry (the columns of the heatmap), and the walls and the gamma flip as they stand with more expiries folded in — the heatmap's depth slider.

| Expiry | Net GEX | Contracts |
|---|---|---|
| 2026-09-14 | 10.1 M | 40 |
| 2026-09-15 | -26.6 M | 49 |
| 2026-09-16 | -12.0 M | 48 |
| 2026-09-17 | -6.0 M | 38 |
| 2026-09-18 | -831.6 M | 219 |
| 2026-09-25 | -30.9 M | 186 |

| Expiries folded in | Call wall | Put wall | Gamma flip |
|---|---|---|---|
| 1 | 302.00 | 291.00 | 289.55 |
| 2 | 302.00 | 284.00 | — |
| 3 | 302.00 | 284.00 | — |
| 4 | 302.00 | 284.00 | — |
| 5 | 315.00 | 285.00 | 242.42 |
| 6 | 315.00 | 285.00 | 242.22 |

## About these numbers

Computed by GammaGrid from the IWM options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-09-13T04:10:30.357651 UTC; this page follows the collection, roughly every fifteen minutes while the market is open.

Other views of IWM: [Overview](https://app.gammagrid.io/demo/t/IWM.md) · [Max Pain / GEX](https://app.gammagrid.io/demo/t/IWM/max-pain.md) · [Volatility (IV)](https://app.gammagrid.io/demo/t/IWM/volatility.md).

Canonical page: <https://app.gammagrid.io/demo/t/IWM/heatmap> · The demo shows the free list only; a GammaGrid account watches any US-listed ticker with options, replays earlier collections and opens every contract: <https://app.gammagrid.io/>