XBI Gamma Squeeze, Pin & Wall Analysis

XBI Biotech ETF $134.91 +0.36% (updated 2026-05-12)

Today's OI Read — XBI

Where the walls are, where price sits, and what the dealer positioning implies for Biotech ETF

In Between Walls?

$115

DOM

$125

2ND

$134.91

Outside the dominant wall range — directional momentum more likely than mean reversion.

Magnet Strength Details →

0.93× Normal (0.7–1×)

Current OI 47,334

30d Avg OI 50,752

Near or below average — wall levels carry typical structural weight.

Put/Call Ratio

1.39

PUT HEAVY

Above 1.2 — more put OI than calls. Hedging demand elevated; market participants are positioned defensively.

Dominant Wall

$115

▼ Below spot

The highest OI concentration strike — the structural anchor dealers are most committed to hedging.

Distance to #1 Wall

$+19.91

+14.76%

Price is above the dominant wall — acts as support.

Wall Skew

-1.000

PUT HEAVY

Put-heavy at the dominant wall — put sellers defend this level. Acts as structural support/magnet.

Today's Top Setup — XBI

SQUEEZE, PIN, and CAGE scored 0–100 from OI structure. Highest score = today's highest-conviction setup.

PIN — 53.7% hit rate (n=1,719). CAGE — 45.4% (n=1,161). SQUEEZE — 49.5% (n=5,555). Half hit, half don't — the edge is asymmetric payoff.

Strength scores are locked

PRO

See exactly which setup is most likely — and by how much

Unlock

🚀 SQUEEZE

candidate

Strength ██%

5d horizon

Target · Stock pops ≥+5% within 10 trading days — the kind of move where the winners run far enough to outweigh the misses.

📌 PIN

AUC 0.83 measured

Strength ██%

1d horizon

Target · Price closes within 0.5% of $115 (dom strike) by +1d.

↔ CAGE

AUC 0.55 measured

Strength ██%

5d horizon

Target · Price stays between $115 – $125 through +5d.

Top OI Walls

Largest open interest concentrations · sorted by strike price · * OI projected from prior day

2026-05-12

Rank	Strike	Call OI	Put OI	Total OI	P/C	% of Max
#4	$138 Resistance	2,411	1,576	3,987	0.65	52%
#3	$135 Resistance	1,779	2,336	4,115	1.31	54%
▶ $134.91
#5	$134 Support	2,591	1,082	3,673	0.42	48%
#2	$125 Support	644	4,046	4,690	6.28	61%
#1	$115 Support	0	7,685	7,685	—	100%

Dealer Magnet Strength

When total OI is elevated vs its 30-day rolling average, dealer hedging is heavier — walls act like magnets. Very High = stronger PIN / CAGE conviction. Near-normal = weaker structural hold.

Current Magnet Strength

Normal (0.7–1×)

Low (<0.7×)

67.8%

269 days · 1d

Normal (0.7–1×)

69.0%

30 days · 1d

Elevated (1–1.5×)

100.0%

7 days · 1d

High (1.5–2×)

90.9%

11 days · 1d

Very High (>2×)

76.7%

86 days · 1d

Containment Rate by OI Magnitude Bucket

OI ratio = today's total OI ÷ 30-day rolling average. Does elevated OI predict price staying inside the dominant wall range?

OI Level	Days	1d	2d	5d	10d	20d
Low (<0.7×)	269	67.8%	58.1%	44.2%	35.4%	30.2%
Normal (0.7–1×)	30	69.0%	71.4%	63.0%	44.4%	25.9%
Elevated (1–1.5×)	7	100.0%	71.4%	85.7%	71.4%	66.7%
High (1.5–2×)	11	90.9%	72.7%	54.5%	27.3%	18.2%
Very High (>2×)	86	76.7%	69.8%	65.1%	65.1%	49.4%

SQUEEZE / PIN / CAGE Setup Backtest — XBI

Last 50 sessions — which setup fired, what the score was, and whether it hit. See the actual win/loss record.

0 days ·

Min Strength 60

Magnet:

2026-05-05

↔ CAGE

Strength 20%

Magnet

Floor $128

Ceiling $136

Range 5.6%

✗ Miss

Win Criteria

Stay inside $128–$136 for 5 days

What Happened

$134.91

+0.84%

Broke up — max move 2.9% (need ≤2%)

2026-05-04

📌 PIN

Strength 90%

Magnet

Floor $128

Ceiling $133

Range 3.4%

✗ Miss

Win Criteria

Close within 0.5% of $133 by end of day

What Happened

$133.79

+0.22%

Closed 0.6% from wall (need ≤0.5%) — moved +0.2%

2026-05-01

↔ CAGE

Strength 55%

Magnet

Floor $132

Ceiling $133

Range 0.8%

✗ Miss

Win Criteria

Stay inside $132–$133 for 5 days

What Happened

$134.71

+3.29%

Broke up — max move 5.6% (need ≤2%)

2026-04-30

↔ CAGE

Strength 75%

Magnet

Floor $133

Ceiling $134

Range 0.8%

✓ Hit

Win Criteria

Stay inside $133–$134 for 5 days

What Happened

$133.66

+1.77%

2026-04-29

↔ CAGE

Strength 75%

Magnet

Floor $133

Ceiling $134

Range 0.8%

✗ Miss

Win Criteria

Stay inside $133–$134 for 5 days

What Happened

$137.68

+6.81%

Broke up — max move 3.6% (need ≤2%)

2026-04-28

📌 PIN

Strength 35%

Magnet

Floor $126

Ceiling $133

Range 5.0%

✗ Miss

Win Criteria

Close within 0.5% of $133 by end of day

What Happened

$128.90

-1.72%

Closed 3.1% from wall (need ≤0.5%) — moved -1.7%

2026-04-27

📌 PIN

Strength 75%

Magnet

Floor $126

Ceiling $133

Range 4.9%

✗ Miss

Win Criteria

Close within 0.5% of $133 by end of day

What Happened

$131.16

-1.41%

Closed 1.4% from wall (need ≤0.5%) — moved -1.4%

2026-04-24

📌 PIN

Strength 75%

Magnet

Floor $133

Ceiling $140

Range 5.3%

✓ Hit

Win Criteria

Close within 0.5% of $133 by end of day

What Happened

$133.04

-0.18%

2026-04-23

↔ CAGE

Strength 75%

Magnet

Floor $135

Ceiling $137

Range 1.5%

✗ Miss

Win Criteria

Stay inside $135–$137 for 5 days

What Happened

$131.33

-2.35%

Broke down — max move 2.5% (need ≤2%)

2026-04-22

📌 PIN

Strength 75%

Magnet

Floor $135

Ceiling $137

Range 1.5%

✗ Miss

Win Criteria

Close within 0.5% of $137 by end of day

What Happened

$134.49

-2.05%

Closed 1.8% from wall (need ≤0.5%) — moved -2.1%

2026-04-21

📌 PIN

Strength 75%

Magnet

Floor $135

Ceiling $137

Range 1.5%

✓ Hit

Win Criteria

Close within 0.5% of $137 by end of day

What Happened

$137.31

+0.67%

2026-04-20

↔ CAGE

Strength 75%

Magnet

Floor $135

Ceiling $137

Range 1.5%

✗ Miss

Win Criteria

Stay inside $135–$137 for 5 days

What Happened

$133.04

-3.45%

Broke down — max move 2.4% (need ≤2%)

2026-04-17

↔ CAGE

Strength 55%

Magnet

Floor $134

Ceiling $135

Range 0.7%

✓ Hit

Win Criteria

Stay inside $134–$135 for 5 days

What Happened

$133.28

-3.89%

2026-04-16

📌 PIN

Strength 5%

Magnet

Floor $110

Ceiling $125

Range 11.1%

✗ Miss

Win Criteria

Close within 0.5% of $110 by end of day

What Happened

$138.67

+2.37%

Closed 21.2% from wall (need ≤0.5%) — moved +2.4%

2026-04-15

↔ CAGE

Strength 20%

Magnet

Floor $125

Ceiling $135

Range 7.3%

✓ Hit

Win Criteria

Stay inside $125–$135 for 5 days

What Happened

$137.31

+0.63%

2026-04-14

📌 PIN

Strength 5%

Magnet

Floor $110

Ceiling $125

Range 11.1%

✗ Miss

Win Criteria

Close within 0.5% of $110 by end of day

What Happened

$136.45

+0.54%

Closed 19.5% from wall (need ≤0.5%) — moved +0.5%

2026-04-13

📌 PIN

Strength 5%

Magnet

Floor $110

Ceiling $125

Range 11.4%

✗ Miss

Win Criteria

Close within 0.5% of $110 by end of day

What Happened

$135.72

+2.78%

Closed 19.5% from wall (need ≤0.5%) — moved +2.8%

2026-04-10

📌 PIN

Strength 5%

Magnet

Floor $110

Ceiling $125

Range 11.6%

✗ Miss

Win Criteria

Close within 0.5% of $110 by end of day

What Happened

$132.05

+2.02%

Closed 17.0% from wall (need ≤0.5%) — moved +2.0%

2026-04-09

📌 PIN

Strength 55%

Magnet

Floor $124

Ceiling $133

Range 6.4%

✗ Miss

Win Criteria

Close within 0.5% of $133 by end of day

What Happened

$129.44

-1.81%

Closed 2.7% from wall (need ≤0.5%) — moved -1.8%

2026-04-06

↔ CAGE

Strength 20%

Magnet

Floor $110

Ceiling $117

Range 5.4%

✗ Miss

Win Criteria

Stay inside $110–$117 for 5 days

What Happened

$132.05

+2.52%

Broke down — max move 100.0% (need ≤2%)

2026-04-02

📌 PIN

Strength 35%

Magnet

Floor $123

Ceiling $127

Range 3.1%

✗ Miss

Win Criteria

Close within 0.5% of $127 by end of day

What Happened

$128.80

-0.12%

Closed 1.4% from wall (need ≤0.5%) — moved -0.1%

2026-04-01

📌 PIN

Strength 35%

Magnet

Floor $123

Ceiling $127

Range 3.1%

✗ Miss

Win Criteria

Close within 0.5% of $127 by end of day

What Happened

$128.96

+0.32%

Closed 1.5% from wall (need ≤0.5%) — moved +0.3%

2026-03-31

↔ CAGE

Strength 35%

Magnet

Floor $115

Ceiling $121

Range 4.7%

✓ Hit

Win Criteria

Stay inside $115–$121 for 5 days

What Happened

Data pending

2026-03-30

↔ CAGE

Strength 20%

Magnet

Floor $115

Ceiling $121

Range 5.1%

✗ Miss

Win Criteria

Stay inside $115–$121 for 5 days

What Happened

Data pending

2026-03-27

↔ CAGE

Strength 20%

Magnet

Floor $115

Ceiling $121

Range 5.0%

✗ Miss

Win Criteria

Stay inside $115–$121 for 5 days

What Happened

$128.80

+7.70%

Broke down — max move 7.5% (need ≤2%)

2026-03-26

↔ CAGE

Strength 55%

Magnet

Floor $119

Ceiling $120

Range 0.8%

✗ Miss

Win Criteria

Stay inside $119–$120 for 5 days

What Happened

$128.96

+4.08%

Broke down — max move 4.1% (need ≤2%)

2026-03-25

↔ CAGE

Strength 55%

Magnet

Floor $117

Ceiling $119

Range 1.6%

✗ Miss

Win Criteria

Stay inside $117–$119 for 5 days

What Happened

$128.55

+3.74%

Broke down — max move 4.1% (need ≤2%)

2026-03-24

↔ CAGE

Strength 55%

Magnet

Floor $117

Ceiling $119

Range 1.7%

✗ Miss

Win Criteria

Stay inside $117–$119 for 5 days

What Happened

$127.73

+6.85%

Broke up — max move 3.7% (need ≤2%)

2026-03-23

↔ CAGE

Strength 55%

Magnet

Floor $117

Ceiling $119

Range 1.6%

✓ Hit

Win Criteria

Stay inside $117–$119 for 5 days

What Happened

$118.78

-2.40%

2026-03-20

↔ CAGE

Strength 55%

Magnet

Floor $117

Ceiling $119

Range 1.7%

✗ Miss

Win Criteria

Stay inside $117–$119 for 5 days

What Happened

$119.59

-0.60%

Broke up — max move 3.0% (need ≤2%)

2026-03-19

📌 PIN

Strength 35%

Magnet

Floor $105

Ceiling $120

Range 12.3%

✓ Hit

Win Criteria

Close within 0.5% of $120 by end of day

What Happened

$120.31

-1.65%

2026-03-18

📌 PIN

Strength 55%

Magnet

Floor $105

Ceiling $120

Range 12.4%

✗ Miss

Win Criteria

Close within 0.5% of $120 by end of day

What Happened

$122.33

+1.01%

Closed 1.9% from wall (need ≤0.5%) — moved +1.0%

2026-03-17

📌 PIN

Strength 5%

Magnet

Floor $105

Ceiling $120

Range 12.1%

✗ Miss

Win Criteria

Close within 0.5% of $120 by end of day

What Happened

$121.11

-2.48%

Closed 0.9% from wall (need ≤0.5%) — moved -2.5%

2026-03-16

📌 PIN

Strength 5%

Magnet

Floor $120

Ceiling $135

Range 12.1%

✗ Miss

Win Criteria

Close within 0.5% of $120 by end of day

What Happened

$124.19

+0.23%

Closed 3.4% from wall (need ≤0.5%) — moved +0.2%

2026-03-13

📌 PIN

Strength 35%

Magnet

Floor $120

Ceiling $135

Range 12.3%

✗ Miss

Win Criteria

Close within 0.5% of $120 by end of day

What Happened

$123.91

+1.71%

Closed 3.2% from wall (need ≤0.5%) — moved +1.7%

2026-03-12

↔ CAGE

Strength 35%

Magnet

Floor $124

Ceiling $128

Range 3.3%

✓ Hit

Win Criteria

Stay inside $124–$128 for 5 days

What Happened

$122.33

-0.24%

2026-03-11

↔ CAGE

Strength 75%

Magnet

Floor $129

Ceiling $130

Range 0.8%

✗ Miss

Win Criteria

Stay inside $129–$130 for 5 days

What Happened

$121.11

-4.17%

Broke down — max move 3.6% (need ≤2%)

2026-03-10

↔ CAGE

Strength 55%

Magnet

Floor $129

Ceiling $130

Range 0.8%

✗ Miss

Win Criteria

Stay inside $129–$130 for 5 days

What Happened

$124.19

-2.54%

Broke down — max move 4.4% (need ≤2%)

2026-03-09

📌 PIN

Strength 75%

Magnet

Floor $117

Ceiling $127

Range 7.9%

✓ Hit

Win Criteria

Close within 0.5% of $127 by end of day

What Happened

$127.43

+0.24%

2026-03-06

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 0.8%

✗ Miss

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$121.83

-1.75%

Broke up — max move 2.8% (need ≤2%)

2026-03-05

↔ CAGE

Strength 35%

Magnet

Floor $118

Ceiling $124

Range 4.8%

✗ Miss

Win Criteria

Stay inside $118–$124 for 5 days

What Happened

$122.62

-1.03%

Broke up — max move 2.8% (need ≤2%)

2026-03-04

↔ CAGE

Strength 35%

Magnet

Floor $118

Ceiling $124

Range 4.7%

✓ Hit

Win Criteria

Stay inside $118–$124 for 5 days

What Happened

$126.38

-0.03%

2026-03-03

📌 PIN

Strength 75%

Magnet

Floor $118

Ceiling $124

Range 4.9%

✗ Miss

Win Criteria

Close within 0.5% of $124 by end of day

What Happened

$126.42

+2.36%

Closed 2.0% from wall (need ≤0.5%) — moved +2.4%

2026-03-02

↔ CAGE

Strength 35%

Magnet

Floor $118

Ceiling $124

Range 4.7%

✗ Miss

Win Criteria

Stay inside $118–$124 for 5 days

What Happened

$127.12

+0.45%

Broke down — max move 2.4% (need ≤2%)

2026-02-27

↔ CAGE

Strength 35%

Magnet

Floor $118

Ceiling $124

Range 4.7%

✗ Miss

Win Criteria

Stay inside $118–$124 for 5 days

What Happened

$124.00

-2.65%

Broke down — max move 3.0% (need ≤2%)

2026-02-26

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 1.2%

✗ Miss

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$123.90

-2.95%

Broke down — max move 3.3% (need ≤2%)

2026-02-25

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 1.2%

✓ Hit

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$126.42

-1.45%

2026-02-24

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 1.2%

✓ Hit

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$123.50

-4.38%

2026-02-23

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 1.2%

✓ Hit

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$126.55

-0.33%

2026-02-20

↔ CAGE

Strength 55%

Magnet

Floor $122

Ceiling $123

Range 1.2%

✗ Miss

Win Criteria

Stay inside $122–$123 for 5 days

What Happened

$127.37

+2.08%

Broke up — max move 3.5% (need ≤2%)