HWM gamma levels.

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

• HWM $220.81 · down 1.98% on the day · negative gamma overall (moves tend to extend)
• Levels: ★ Volt, the biggest level 220 (below price · 0.81 / 0.37% away); ↯ Surge, live flow 225 (above price · 4.19 / 1.90% away); ‖ call wall — ceiling, sticky 260 (above price · 39.19 / 17.75% away); ‖ put wall — floor, slippery 220 (below price · 0.81 / 0.37% away)
• Expected move today ±9.96
• Strikes nearest the money (high to low): 227.5 positive, 225 negative, 222.5 negative, 220 negative, 217.5 negative, 215 negative
• Since yesterday's close, positioning grew at 215, 220.
• Event pricing: the options market prices an unusually large move into 2026-10-30 (±$21.24 by that date, about 1.8x 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 34.5%