# XLRE — GEX Heatmap · GammaGrid demo

**Gamma weather: Clear.** Positive gamma with the flip far off — dealer hedging is damping moves. *(next 39 days · 2 expiries)*

| Level | Value |
|---|---|
| Price | 44.77 |
| Call wall | 41.00 |
| Put wall | 40.00 |
| Gamma flip | 40.83 |
| Net GEX | 2.6 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 |
|---|---|---|
| 2026-11-20 | 2.3 M | 24 |
| 2026-12-18 | 0.3 M | 14 |
| 2027-01-15 | 1.4 M | 36 |
| 2027-02-19 | -0.3 M | 25 |
| 2027-05-21 | 0.0 M | 26 |

| Expiries folded in | Call wall | Put wall | Gamma flip |
|---|---|---|---|
| 1 | 41.00 | 40.00 | 40.79 |
| 2 | 41.00 | 40.00 | 40.83 |
| 3 | 45.00 | 35.00 | 43.48 |
| 4 | 45.00 | 35.00 | 44.00 |
| 5 | 45.00 | 35.00 | 43.95 |

## About these numbers

Computed by GammaGrid from the XLRE options chain — dealer gamma exposure, max pain and the walls are GammaGrid's own arithmetic over open interest; the source data is delayed. Collected 2026-11-09T17:14:10.655674 UTC; this page follows the collection, roughly every fifteen minutes while the market is open.

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

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