EWG gamma exposure by strike
From the closing options book · October 21, 2026 · updated after every close
EWG closed at 41.70 on October 21, 2026 with dealers net short $885K of gamma. The call wall was 43 (+3.1%), the put wall 40 (−4.1%) and the apex, the single largest gamma strike, 40.
EWG largest gamma strikes within 4% of the close
The heaviest strike on the October 21, 2026 book was 43, carrying +$57K of dealer gamma, +3.1% from the close.
EWG closed with dealers short gamma on 50 of the last 60 sessions. In short gamma, dealer hedging buys rallies and sells drops, which tends to extend moves; in long gamma it leans against them.
Positive (green) strikes are where dealers are long gamma and hedge against the move; negative (pink) strikes are where they are short and hedge with it. These are closing levels: where hedging was concentrated last night, not targets.
These are the October 21, 2026 closing numbers. Members see EWG's map move live all session.
Common questions
At the October 21, 2026 close, EWG's net dealer gamma exposure was −$885K: short gamma.
43, +3.1% from the 41.70 close on October 21, 2026.
40, −4.1% from the close on October 21, 2026.
Compare: gamma exposure by strike on other tickers
Measured from the closing options book and rebuilt after every close. Nothing on this page is live. Levels are where dealer hedging is concentrated, not targets or forecasts. Not investment advice.