# XLC — Max Pain / GEX · 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 | 107.09 | | Call wall | 113.00 | | Put wall | 101.00 | | Gamma flip | 108.02 | | Net GEX | 2.1 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 | |---|---|---|---|---|---|---|---| | 2026-11-13 | 102.00 | ±3.2% | 103.65 – 110.54 | 108.00 | 102.00 | 0.7 M | 55 | | 2026-11-20 | 105.00 | ±5.0% | 101.73 – 112.46 | 113.00 | 104.00 | 1.5 M | 54 | | 2026-11-27 | 103.00 | ±5.7% | 101.01 – 113.18 | 106.00 | 103.00 | -0.1 M | 40 | | 2026-12-04 | 103.00 | ±6.1% | 100.59 – 113.60 | 105.00 | 101.00 | -0.0 M | 36 | | 2026-12-11 | 102.50 | ±7.0% | 99.55 – 114.64 | 102.50 | 102.50 | -0.0 M | 9 (thin) | | 2026-12-18 | 108.00 | ±8.0% | 98.52 – 115.67 | 115.00 | 106.00 | 0.3 M | 60 | 12 expiries in the chain; the page lists every one. ## About these numbers Computed by GammaGrid from the XLC options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:13:09.723719 UTC; this page follows the collection, roughly every fifteen minutes while the market is open. Other views of XLC: [Overview](https://app.gammagrid.io/demo/t/XLC.md) · [GEX Heatmap](https://app.gammagrid.io/demo/t/XLC/heatmap.md) · [Volatility (IV)](https://app.gammagrid.io/demo/t/XLC/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: