Gamma exposure / SLV
SLV gamma exposure
Dealer hedging is positioned to add to moves.
SLV is at 44.13, 3.26% below its gamma flip at 45.57. In negative gamma, dealer hedging tends to push with moves instead of against them, so moves can run further.
The call wall is 50 and the put wall is 40. The king node, the strike where dealer hedging is most concentrated, is 45. The 1-sigma range to the 2026-11-16 close is ±1.19 (42.94 to 45.32).
As of 4:00 PM ET, Fri Nov 13. The map refreshes through the trading day.
The full map adds the playbook and the price chart with every level. Live data, options flow and CVD come with a HelmFi plan.
The numbers
| Price | 44.13 |
|---|---|
| Gamma regime | Negative gamma |
| Gamma flip | 45.57+3.26% |
| Call wall | 50+13.30% |
| Put wall | 40-9.36% |
| King node | 45+1.97% |
| Total dealer gamma | -$0.01bn per 1% move |
| 1-sigma range | ±1.19 to 2026-11-16 |
| Max pain | 462026-11-16 expiry |
| Gamma expiring today | 0% |
Common questions
- Is SLV in positive or negative gamma right now?
- Negative gamma. As of 4:00 PM ET, Fri Nov 13, SLV is at 44.13, 3.26% below its gamma flip at 45.57. In negative gamma, dealer hedging tends to push with moves instead of against them, so moves can run further.
- Where is SLV's gamma flip?
- At 45.57, +3.26% from the price of 44.13. The flip is the price where total dealer gamma crosses zero: positive gamma above it, negative below.
- What are SLV's call wall and put wall?
- The call wall is 50 and the put wall is 40. The call wall is the strike above the price with the largest positive dealer gamma; the put wall is the strike below it with the largest negative dealer gamma. They mark where hedging pressure tends to lean against price.
- What is SLV's king node?
- 45. It's the strike with the largest absolute dealer gamma, where hedging is most concentrated.
How it's calculated
Levels come from the SLV options chain (expiries out to 45 days, strikes within 18% of the price), modeled with the industry-standard convention that dealers are long calls and short puts. It's a model of positioning, not a measurement. Full formulas are on the methodology page.