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Dealer positioning

IWM Gamma Exposure (GEX)

Wednesday, September 9, 2026 · 3-session delayed summary

−$1.7BNet gamma
$310Call wall
$290Put wall
$290.74Spot at close

iShares Russell 2000 ETF (IWM) closed that session in a negative gamma regime with net exposure of −$1.7B: dealers hedge by selling into weakness and buying strength, which amplifies moves in both directions. The dominant call wall sits at $310, while the put wall at $290 marks the heaviest downside hedging concentration.

Gamma by strike and expiration

How to read this: each column is an expiration, each row a strike. Gold cells mark the largest positive-gamma concentration per expiration (price magnets), purple the most negative (acceleration zones). Walls are where hedging flows are heaviest. Learn how GEX works

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More IWM data

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