# XLP — GEX Heatmap · GammaGrid demo

**Gamma weather: Storm.** This chain has no gamma flip within 25% of the price, so only the sign of gamma is known — negative, hedging amplifies moves. *(next 25 days · 4 expiries)*

| Level | Value |
|---|---|
| Price | 90.53 |
| Call wall | 95.00 |
| Put wall | 86.00 |
| Gamma flip | — |
| Net GEX | -122.0 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 | -30.7 M | 74 |
| 2026-11-20 | -92.4 M | 84 |
| 2026-11-27 | 0.9 M | 55 |
| 2026-12-04 | 0.1 M | 55 |
| 2026-12-11 | 0.0 M | 39 |
| 2026-12-18 | -63.0 M | 67 |

| Expiries folded in | Call wall | Put wall | Gamma flip |
|---|---|---|---|
| 1 | 91.00 | 88.00 | 82.41 |
| 2 | 95.00 | 86.00 | — |
| 3 | 95.00 | 86.00 | — |
| 4 | 95.00 | 86.00 | — |
| 5 | 95.00 | 86.00 | — |
| 6 | 92.00 | 80.00 | — |

## About these numbers

Computed by GammaGrid from the XLP options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:12:07.714497 UTC; this page follows the collection, roughly every fifteen minutes while the market is open.

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

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