HRL gamma levels.

Where HRL tends to stick and where it slips: the call wall, put wall, gamma flip and Volt, 15-minute delayed and free.

• HRL $20.77 · up 0.78% on the day · positive gamma overall (moves grind and levels hold)
• Levels: ★ Volt, the biggest level 22 (above price · 1.23 / 5.92% away); ↯ Surge, live flow 20.5 (below price · 0.27 / 1.30% away); ‖ call wall — ceiling, sticky 22 (above price · 1.23 / 5.92% away); ‖ put wall — floor, slippery 19 (below price · 1.77 / 8.52% away); ⚡ gamma flip 19.2 (below price · 1.57 / 7.56% away); ↘ Reversal 19 (below price · 1.77 / 8.52% away)
• Expected move today ±0.59 · pre-open reference
• Strikes nearest the money (high to low): 22 positive, 21.5 positive, 21 positive, 20.5 negative, 20 positive, 19.5 negative
• Since yesterday's close, positioning grew at 21.5, 22 and faded at 19.5, 20, 20.5.
• Event pricing: the options market prices an unusually large move into 2026-12-04 (±$2.45 by that date, about 2.7x this board's normal daily move). On single names this is usually an earnings report. Descriptive of the market's own pricing, never a forecast.
• ATM implied volatility 46.9%