Free XLE GEX Heatmap - XLE Gamma Exposure
Use free XLE GEX Heatmap to compare modeled gamma exposure across strikes and expirations for XLE. Generate the grid, then review call wall, put wall, gamma flip and expiration structure alongside business context that includes sector performance, macro data, interest rates, and market volatility.
How to use the XLE GEX Heatmap
Confirm XLE
XLE is already entered. Keep it or search another ticker.
Choose the formula
Keep the default formula or select the available calculation view.
Generate the Heatmap
Create the grid, then compare exposure across strikes and expirations.
Visualize gamma exposure across strike prices and expirations. Green = positive (call-heavy), purple = negative (put-heavy).
GEX Workspace
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Max Pain Calculator
Options pain strike by expiration
Key levels
XLE GEX heatmap levels in detail
Data as of
Spot
$68.35
Call wall
$68
0.5% below spot
Put wall
$68
0.5% below spot
Gamma flip
$67.74
0.9% below spot
Net GEX
-$350K
negative gamma
Since the previous session (Oct 26)
- Spot down 1.9% ($69.68 to $68.35)
- Call wall $70 to $68
- Put wall $69 to $68
- Net GEX $433K to -$350K
These are the levels across every expiration in the latest snapshot. The heatmap below breaks the same exposure out strike by strike and expiration by expiration, so you can see which expiry carries each level.
Reviewed by the QuantWheel research team. Modeled from listed XLE options data; not observed dealer inventory and not a forecast. Read how we compute XLE GEX heatmap levels.
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Understanding the XLE GEX heatmap
The XLE options chain represents XLE. Evaluate its open-interest distribution alongside business context that includes sector performance, macro data, interest rates, and market volatility. Use the heatmap to compare modeled exposure by strike and expiration instead of reading one cell without the surrounding grid.
For XLE, compare nearby expiration columns with later expirations before interpreting the call wall, put wall or gamma flip. Changes in open interest and included contracts can alter the modeled grid. The result describes selected options data and does not predict where XLE will trade.
XLE Heatmap methodology and limitations
The grid applies the selected formula to available XLE options data and organizes the modeled result by strike and expiration. The call wall, put wall and gamma flip summarize that model across the displayed data.
The heatmap does not observe market-maker positions, identify who owns a contract or predict the next XLE move. Use it as positioning context and compare the model with price, liquidity and your own risk plan.
Prefer a strike-level chart? Open the XLE GEX chart.
XLE GEX heatmap FAQ
What is a XLE GEX heatmap?
A XLE GEX heatmap is a grid of QuantWheel's modeled gamma exposure. Rows represent strikes, columns represent expirations, and color intensity represents the direction and relative size of the modeled exposure in each cell.
How do I read the XLE GEX heatmap?
Start with strikes near the XLE price, then compare the nearest expiration columns with later expirations. Read down one column to examine one expiration and across one row to see whether modeled exposure at a strike appears in several expirations.
What do the XLE GEX heatmap colors show?
Green cells show positive modeled net gamma and purple cells show negative modeled net gamma. Stronger color indicates a larger modeled value. The colors describe the calculation and are not guaranteed bullish, bearish, support, or resistance signals.
How are the XLE call wall, put wall and gamma flip modeled?
QuantWheel derives the displayed XLE levels from the selected formula and available options data. The call wall marks the largest positive modeled exposure, the put wall marks the largest negative modeled exposure, and the gamma flip estimates where aggregate modeled gamma changes sign.
How is the XLE GEX heatmap different from the XLE GEX chart?
The XLE heatmap separates modeled exposure by strike and expiration. The XLE GEX chart provides a strike-level profile in a chart view. Use the heatmap when the expiration breakdown matters and the chart when you want a simpler strike profile.
Is the XLE GEX heatmap free?
Yes. QuantWheel provides a limited number of free XLE GEX heatmap calculations. The tool shows the remaining free uses before you generate another heatmap.