# XLF — Max Pain / GEX · GammaGrid demo **Gamma weather: Clear.** Positive gamma with the flip far off — dealer hedging is damping moves. *(next 25 days · 8 expiries)* | Level | Value | |---|---| | Price | 58.01 | | Call wall | 56.00 | | Put wall | 54.00 | | Gamma flip | 59.76 | | Net GEX | 30.8 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 | |---|---|---|---|---|---|---|---| | 2026-11-09 | 57.50 | ±0.5% | 57.70 – 58.32 | 59.00 | 54.00 | 8.0 M | 47 | | 2026-11-11 | 58.00 | ±1.5% | 57.16 – 58.86 | 60.00 | 53.00 | -1.5 M | 46 | | 2026-11-13 | 57.50 | ±2.2% | 56.73 – 59.29 | 60.00 | 55.00 | 5.2 M | 53 | | 2026-11-16 | 57.00 | ±2.4% | 56.60 – 59.42 | 57.00 | 56.00 | -0.2 M | 32 | | 2026-11-18 | 58.50 | ±3.0% | 56.30 – 59.72 | 59.00 | 56.00 | -0.4 M | 30 | | 2026-11-20 | 56.00 | ±3.3% | 56.10 – 59.92 | 56.00 | 54.00 | 20.3 M | 83 | 23 expiries in the chain; the page lists every one. ## About these numbers Computed by GammaGrid from the XLF options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:09:17.811971 UTC; this page follows the collection, roughly every fifteen minutes while the market is open. Other views of XLF: [Overview](https://app.gammagrid.io/demo/t/XLF.md) · [GEX Heatmap](https://app.gammagrid.io/demo/t/XLF/heatmap.md) · [Volatility (IV)](https://app.gammagrid.io/demo/t/XLF/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: