GAMMA EXPOSURE · Dealer positioning

XLC Gamma Today: Positioning Walls and the Flip

Every number here is computed from the traded XLC options chain. The call wall is where dealer hedging accumulates above spot and caps upside, the put wall is its mirror below, and the gamma flip is the level where hedging stops damping moves and starts amplifying them.

112.03$ Negative gamma Refreshed every five minutes during the US session (UTC)

🔒 مستوياتُ التنفيذ مقفلة

جدارا الغاما ونقطةُ انقلابها لـXLC متاحةٌ للمشتركين.

ويمكنك فحصُ SPY وQQQ وNVDA كاملةً الآن بلا اشتراك.

اطّلع على الباقات

104.00$ Spot right now 114.00$

Gamma on other symbols

SPX SPY QQQ DIA IWM AAPL MSFT GOOGL AMZN NVDA META TSLA All symbols

Options chain around XLC price

XLC · open interest at each strike.
Strike	Calls	Puts	Today's volume	Skew
109.00	1,000	1,773	—	Put
109.50	2	7	—	Put
110.00	906	1,251	1	Put
110.50	8	26	1	Put
111.00	838	1,285	29	Put
111.50	86	74	29	Call
112.00	664	281	24	Call
112.50	11	5	24	Call
113.00	371	110	16	Call
113.50	155	153	16	Call
114.00	690	466	21	Call
115.00	401	1,084	28	Put

How the levels moved over the last 3 days

XLC archive · each day's close.
Day	Price	Gamma flip	Call wall	Put wall
2026-08-10	111.44	121.34	112.00	104.00
2026-08-11	111.36	121.83	112.00	104.00
2026-08-12	110.44	120.28	112.00	104.00

XLC numeric indicators.
Metric	Value
Max pain strike	111.00
Put/Call ratio · today's volume	0.30
Put/Call ratio · open interest	10.55
0DTE gamma flip	110.62
0DTE contracts in chain	94
Total contracts read	518

Strongest magnet levels

116.00 951,555
112.00 638,638
117.00 436,448

Strongest accelerant levels

104.00 ⁦−20.61⁩ مليون
105.00 ⁦−2.25⁩ مليون
106.00 −845,980

Where does XLC stand relative to the gamma flip?

Price 112.03 is under the gamma flip 115.33 by 2.86%. Positioning is negative: dealer hedging runs **with** the move rather than against it, so jumps become wider and reversals sharper. Sessions in this state move more than the size of the news would suggest. Price is inside the range between 104.00 and 114.00, closer to Call wall of the two.

Option walls and session range

أكبرُ تجمّعٍ لعقود الشراء عند 114.00 (1.76% from price)، ولعقود البيع عند 104.00 (-7.17% from price)، والمسافةُ بينهما 9.62٪، a **wide** range. That does not imply a move is coming, only that the walls are far enough apart not to confine XLC during the session, so flow leads rather than hedging.

Exposure size and hedging density

صافي تعرّض الغاما لـXLC يبلغ ⁦−23.76⁩ مليون، وهو حجمٌ محدود. Hedging for a 1% move is about 212,113 shares. In this range hedging stays secondary to the stock's own flow, so the levels below should not be asked to carry more than they can.

Supporting signals

and this reading is built on 518 contracts in the chain.

What the recent history of XLC says

Over the last 27 days of tracking (297 archived snapshots), XLC stayed above the gamma flip in 0% of readings، وتنقّلت نقطةُ الانقلاب نفسُها بين 115.33 و122.45، أي بنطاق 6.17٪، وهو ما يعني أنّ the level moves with the market and does not serve as a fixed reference across days، and net exposure today is below the period average (⁦−35.49⁩ مليون).