pinning
XLV · 2026-06-12 · 16:01 ET (after hours)

$XLV

Health Care Select Sector SPDR · Healthcare ETF

$153.81 ▼ -0.28   (-0.18%)

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Set a ward on $XLV

We DM you the instant the $155 call wall or the $145 put wall breaks. No noise, just the break.

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Free ward

Set a ward on $XLV

We DM you the instant the $155 call wall or the $145 put wall breaks.

Warded

$XLV is warded

We'll DM you the moment the $155 call wall breaks. Rest easy.

The Read

$XLV is in a long-gamma environment with calm heat at 27, which means dealers are pinning moves and damping volatility. The $155 call wall is pinned through the last 3 sessions while the $145 put wall remains untested yesterday, so the range is effectively capped above but open below.

IV percentile · 1y 76 · premium elevated

Snapshot $153.81 · · 2026-06-12 · 16:01 ET (after hours)

The Levels

range held 5 sessions, both sides

Put Wall $145 held 5 sessions
Gamma Flip $149 +3.5% above flip
Call Wall $155 held 5 sessions
spot $153.81

Regime pinning moves get faded back to the walls.


Scored Levels


Where the market is positioned


Implied vs Measured


Plays at the Walls

Covered Call

$158 · Jul 17 · 30Δ

$1.39 premium  ·  10%/yr annualized

Cash-Secured Put

$150 · Jul 17 · 31Δ

$1.62 premium  ·  12%/yr annualized

Not investment advice · Informational only


How our calls on $XLV have played out

Over the last 21 sessions · n=10

10 Walls Called
5 Held 100% 3 pinned · 2 rejected
0 Broke 0%
5 Untested

$155 call wall

held 4 sessions running




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