State Street Energy Select Sector SPDR ETF (XLE) Gamma Exposure (GEX) & Greeks
Gamma exposure (GEX) analysis shows how options positioning creates dealer hedging pressure across strikes. Includes delta, vanna, charm, vomma, and vega exposure by strike price.
Snapshot as of Apr 21, 2026.
- Spot Price
- $55.85
- Net Gamma
- -$34.6M
- Net Delta
- -$1.67B
As of Apr 21, 2026, State Street Energy Select Sector SPDR ETF (XLE) has negative net gamma exposure of $34.6M under the standard dealer-hedging convention. Net delta exposure is -$1.67B. Negative GEX means dealers are net short gamma — they must sell into weakness and buy into strength, amplifying realized volatility and accelerating directional moves.