XERS gamma levels
From the closing options book · October 20, 2026
XERS closed at 11.13 on October 20, 2026. Its call wall was 10, put wall 9, the Apex (the strike with the most dealer gamma) 10. Net dealer gamma was positive, so hedging tends to absorb moves.
These are the October 20, 2026 closing levels. Members see XERS's board live all session, with the odds of reaching each level.
XERS's closing options book on October 20, 2026 carried +$11K of net dealer gamma spread across 5 expirations and 7 contracts. The sign is positive, so hedging leans against the move rather than with it.
The heaviest call-side strike sits at 10 and the heaviest put-side strike at 9, a band 9% wide. XERS has averaged 4.79% between its high and its low over the last 20 sessions, which makes the full width of that band about 1.9 average sessions of travel. It closed above the call wall entirely.
XERS closed at 11.13 — 10% above the call wall and 19% above the put wall. The call side is the nearer of the two at 10% away, which is the only reason it is worth watching more closely than the other. Most levels drawn on a chart are never reached at all, and the distance is what separates them.
XERS's apex — the strike carrying the most gamma in absolute terms — is 10, the same strike as its call wall. When those stack on one level the book is concentrated rather than spread, and that single strike is doing most of the work.
Across the last 10 recorded sessions its call wall has not moved off 10 once, and its put wall has not moved off 9 once. Walls that stay put and walls that migrate every session are different objects.
What XERS's walls are — and aren't
XERS's book has been recorded on 20 sessions. Its average daily range over that stretch was 4.79% of price. Walls are where dealer hedging is heaviest — positive gamma absorbs moves, negative gamma amplifies them. They are not bounce points, and across our grading they contained price no better than a same-width band around the prior close.
XERS levels, last 10 sessions
| Session | Close | Apex | Call wall | Put wall |
|---|---|---|---|---|
| Oct 20 | 11.13 | 10 | 10 | 9 |
| Oct 19 | 10.95 | 10 | 10 | 9 |
| Oct 16 | 10.31 | 10 | 10 | — |
| Oct 15 | 10.07 | 10 | 10 | — |
| Oct 14 | 9.77 | 10 | 10 | — |
| Oct 13 | 10.20 | 10 | 10 | — |
| Oct 12 | 10.46 | 10 | 10 | — |
| Oct 9 | 10.48 | 10 | 10 | — |
| Oct 8 | 10.19 | 10 | 10 | — |
| Oct 7 | 10.11 | 10 | 10 | — |
Common questions
XERS's heaviest call-side gamma strike is 10, measured from the closing options book on October 20, 2026. That is 10% below where it closed, against an average daily range of 4.79%.
The heaviest put-side strike is 9, 19% below the October 20, 2026 close. Together with the 10 call wall it brackets a band 9% wide.
XERS does not have a well-defined gamma flip in the current book.
Not reliably. Walls mark where dealer hedging is heaviest — positive gamma absorbs moves, negative gamma amplifies them — but levels are not bounce points, and across our grading walls contained price no better than a same-width band around the prior close (XERS's book has been recorded on 20 sessions).
No. This page is built from the closing options book and rebuilt each night, so it describes October 20, 2026. Walls build and dissolve through a session — the live intraday board is inside FlowMonkey, and a free 15-minute delayed SPY board is public at flowmonkey.net/spy-gamma-heatmap.
These are closing levels. The board moves all day.
Walls build and dissolve through the session. FlowMonkey shows the live board on 400+ symbols, with every level priced by whether price can actually reach it today. Start with the free SPY board — no account needed.
Levels are measured from the closing options book and rebuilt nightly. Gamma is an estimate of dealer hedging pressure, not a forecast of direction. Not investment advice.