CMS Energy Corporation (CMS)

The total Gamma Exposure (GEX) for CMS across all expirations is 22,491.85 shares per 1% move, with 25,004.86 from calls and 2,513.01 from puts. The put-call GEX ratio of 0.10 shows call-heavy positioning, potentially creating volatility as market makers hedge by selling into strength and buying weakness. The highest gamma concentration is at the Sep 19, 25 expiration with 14,599.65 net GEX, which may act as a magnet point for price action. Near-term exposure for Sep 19, 25 suggests potential support from positive gamma hedging flows.