# XLB — GEX Heatmap · GammaGrid demo

**Gamma weather: Unsettled.** The price is sitting on the gamma flip — the regime can turn either way. *(next 25 days · 4 expiries)*

| Level | Value |
|---|---|
| Price | 53.03 |
| Call wall | 51.00 |
| Put wall | 49.00 |
| Gamma flip | 52.94 |
| Net GEX | 3.4 M |

## 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 |
|---|---|---|
| 2026-11-13 | 0.6 M | 38 |
| 2026-11-20 | 3.1 M | 48 |
| 2026-11-27 | -0.3 M | 30 |
| 2026-12-04 | -0.0 M | 32 |
| 2026-12-11 | -0.0 M | 16 |
| 2026-12-18 | 1.1 M | 50 |

| Expiries folded in | Call wall | Put wall | Gamma flip |
|---|---|---|---|
| 1 | 54.00 | 52.00 | 52.96 |
| 2 | 51.00 | 49.00 | 52.66 |
| 3 | 51.00 | 49.00 | 52.91 |
| 4 | 51.00 | 49.00 | 52.94 |
| 5 | 51.00 | 49.00 | 52.96 |
| 6 | 60.00 | 47.00 | 54.61 |

## About these numbers

Computed by GammaGrid from the XLB options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:13:02.064835 UTC; this page follows the collection, roughly every fifteen minutes while the market is open.

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

Canonical page: <https://app.gammagrid.io/demo/t/XLB/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/>