XLE gamma levels.

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

• XLE $61.82 · up 0.06% on the day · negative gamma overall (moves tend to extend)
• Levels: ★ Volt — biggest level 62 (above price · 0.18 / 0.29% away); ↯ Surge — live flow 62 (above price · 0.18 / 0.29% away); ‖ call wall — ceiling, sticky 65 (above price · 3.18 / 5.14% away); ‖ put wall — slippery, but above price · not a floor from here 62 (above price · 0.18 / 0.29% away); ⚡ gamma flip 64.44 (above price · 2.62 / 4.24% away); ↘ Reversal 65 (above price · 3.18 / 5.14% away)
• Expected move today ±0.83 · pre-open reference
• Strikes nearest the money (high to low): 63 negative, 62.5 negative, 62 negative, 61.5 negative, 61 negative, 60.5 negative
• Since yesterday's close, positioning grew at 62.
• Event pricing: the options market prices an unusually large move into 2026-09-30 (±$3.11 by that date, about 2x 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 28.1%