ZeroGEX

Live gamma & options-positioning map for SPY/SPX/QQQ traders. Know the levels that matter before price gets there. →

[ZeroGEX @zero_gex70930]

I built ZeroGEX: a lower-cost real-time GEX/options positioning platform for SPY, SPX, and QQQ.

Tracks:

Gamma exposure by strike
Gamma flip
Call/put walls
Max pain
Dealer positioning
Smart money/flow pressure
Intraday heatmaps

Built for traders who want market structure context without paying $300–$500/mo.

https://t.co/G4TdVfg2Fy

[ZeroGEX @zero_gex70930]

Post-market / end-of-week update:

SPX finished the shortened week sitting right on the gamma flip / pin zone.

SPX EOD levels:

Spot: ~7,501
Gamma Flip: ~7,489
Put Wall: 7,500
Call Wall: 7,505
Net GEX: +$110.2B

That is about as pinned as it gets.

The market closed directly between the put wall and call wall, with spot sitting on top of the flip zone. Dealers are still net long gamma, but this is also a transition area — small moves matter because the hedging regime can shift quickly once price moves away from the flip.

Translation:
SPX is boxed in between the key magnets.

With tomorrow’s market holiday, this is a fitting end-of-week close:

Not a clean breakout.
Not a clean breakdown.
Just SPX pinned at the level that matters most.

https://t.co/G4TdVfg2Fy
Not financial advice.

$SPY $SPX $QQQ $VIX #Gamma #GEX #OptionsTrading #OpEx

[ZeroGEX @zero_gex70930]

Mid-afternoon update:

The FOMC damage was repaired quickly.

That has been the theme lately: every scary flush gets tested immediately by the dip-buying reflex.

Now $SPX / $SPY / $QQQ are back above gamma flip, and dealers are long gamma again.

Translation:
Dips may get absorbed, rips may get faded, and price can stay pinned/compressed between the key magnets unless one of the major levels breaks.

https://t.co/G4TdVfg2Fy
$SPY $SPX $QQQ $VIX #Gamma #GEX #OptionsTrading #OpEx

[ZeroGEX @zero_gex70930]

$SPX / $SPY mid-morning update:

Market is rebounding after yesterday’s ugly Fed-led selloff.

Chips are doing a lot of the heavy lifting this morning, with Intel leading semis higher after Trump said Intel will partner with Apple on U.S. chip design.

But today is quad witching, so I’m not treating this as a normal bounce.

Current ZeroGEX levels for $SPX:

Spot: ~7480
Gamma Flip: ~7479
Call Wall: 7500
Put Wall: 7400
Max Pain: 7450
Net GEX: slightly negative

The key read:
SPX has reclaimed the 7400 put wall from yesterday’s flush and is now trading right around the gamma flip / 7480 zone.

That makes this a transition tape.
Above 7480–7500 = bulls can stabilize and try to repair the FOMC damage.

Reject 7500 = still just a relief bounce into resistance.
Lose 7480 = risk of another rotation back toward 7450 / 7400.

ZeroGEX dashboard is currently showing:

Regime: Chop / Range
Bias: Range Fade
Playbook: Mean Reversion

So even though the tape is green, this is not a clean chase setup yet.

It’s a quad-witching reaction zone after a major Fed shock.

https://t.co/G4TdVfg2Fy
$SPY $SPX $QQQ $VIX $SOXX #StockMarket #OptionsTrading #Gamma #GEX #OpEx

[ZeroGEX @zero_gex70930]

$SPX / $SPY post-market recap:

Ugly FOMC reaction.

Stocks faded hard after Warsh’s first Fed meeting, with yields ripping higher as the market digested a more hawkish dot plot and the possibility of rate hikes returning to the discussion.

SPX closed around 7420, down -1.21%, after flushing through the gamma flip and finishing well below it.

Current ZeroGEX levels:

Spot: 7420
Gamma Flip: 7498
Call Wall: 7450
Put Wall: 7400
Max Pain: 7495
Net GEX: -$12.41B

That is a pretty nasty shift.

Earlier today, SPX was bouncing around the gamma flip. By the close, it had lost the flip, lost 7450, and pushed toward the 7400 put wall.

The key takeaway:
This is no longer a clean positive-gamma pin. The board flipped into negative gamma, which means dealer hedging can amplify moves instead of dampening them.

Tomorrow also brings a major monthly OpEx / quad-witching setup, with a large amount of open interest and gamma notional rolling off. That can create a meaningful dealer-positioning reset, especially after a FOMC-driven break lower.

For tomorrow:

Reclaim 7450 = first repair attempt.
Reclaim 7500 = bulls regain the gamma flip / max pain zone.
Lose 7400 = downside risk can expand quickly.

Today was not just a dip.

It was a regime break.

https://t.co/G4TdVfg2Fy

$SPY $SPX $QQQ $VIX #FOMC #StockMarket #OptionsTrading #Gamma #GEX #0DTE #OpEx

[ZeroGEX @zero_gex70930]

$SPX / $SPY mid-afternoon FOMC reaction:

Brutal move after FOMC.

SPX flushed straight into the gamma flip and is now bouncing around that transition zone.

Current ZeroGEX levels:

Spot: ~7470
Gamma Flip: ~7470
Call Wall: 7500
Put Wall: 7400
Max Pain: 7495
Net GEX: -$98.6M

This is exactly where things get tricky.
At the flip, the market is basically sitting on the line between supportive / pinning structure and more unstable short-gamma behavior.

Dashboard has flipped to:
Regime: Trap / Reversal
Bias: Fade Strength
Playbook: Trap / Reversal

So the key question now:
Was that FOMC flush the liquidation move, or just the first leg?

Reclaim 7500 = bulls can stabilize and try to repair the damage.
Lose 7470 = risk of another downside expansion toward 7400.

Not a clean dip-buy yet. This is a reaction-zone tape.

https://t.co/G4TdVfg2Fy
$SPY $SPX $QQQ $VIX #FOMC #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPY / $SPX morning open read:

Big event day.

Today is VIXpiration + FOMC, with quad witching tomorrow, so I’m not treating this as a normal Wednesday tape.

After yesterday’s range-fade session, SPY is opening around 751, while SPX is sitting around 7520–7525.

Current ZeroGEX levels for $SPX:

Spot: ~7510
Call Wall: 7600
Put Wall: 7500
Gamma Flip: ~7460
Max Pain: 7495
Net GEX: +$14.0B
Put/Call Ratio: 0.92

The key range I’m watching:
7500 support
7600 resistance

The broader structure is still positive above the gamma flip, but price is sitting below yesterday’s upper range and well under the 7600 call wall.

With VIXpiration and FOMC both today, I’d expect a lot of pin/chop/positioning noise before the market decides whether it wants to make a real directional move.

Hold 7500 = bulls keep the structure intact.
Lose 7500 = risk opens toward the gamma flip near 7463.

Reclaim 7550 = bulls get another shot at 7600.
Until FOMC clears, this still looks more like a range/acceptance test than a clean chase.

https://t.co/G4TdVfg2Fy

$SPY $SPX $QQQ $VIX #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPY post-market recap:

The market stayed muted/choppy into tomorrow’s FOMC, and the ZeroGEX range read played out pretty cleanly.

SPY closed around 750.20, down -0.59%, after fading most of the day and finishing almost exactly on the 750 call wall / max pain area.

Current ZeroGEX levels:

Spot: 750.20
Call Wall: 750
Put Wall: 745
Gamma Flip: 745.96
Max Pain: 750
Net GEX: +$1.82B

The key takeaway:
This was not a trend continuation day after yesterday’s headline rally.

It was a mean-reversion / range-fade day, with price getting pulled back toward the 750 magnet zone while traders wait for FOMC and this week’s options flows.

Dashboard stayed in:
Regime: Chop / Range
Bias: Range Fade
Playbook: Mean Reversion

Above 750 = bulls can try to reclaim control.
Lose 746 = risk opens toward the 745 put wall and lower.

https://t.co/G4TdVfgAv6

$SPY $SPX $QQQ $VIX #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPX / $SPY midday read:

The morning chop/range read is playing out.

After yesterday’s headline-driven rally, the market has stayed muted into FOMC tomorrow and is now drifting back toward the lower end of the current gamma range.

Current ZeroGEX levels for $SPX:
Spot: ~7530
Call Wall: 7550
Put Wall: 7530
Gamma Flip: ~7480
Max Pain: 7530
Net GEX: +$7.82B

The key level right now is 7530.

That is spot, put wall, and max pain all sitting in the same area — a pretty clear pin/magnet zone.

Dashboard remains:
Regime: Chop / Range
Bias: Range Fade
Playbook: Mean Reversion

Translation: this is not a clean directional chase. It is more of a pin/range market until proven otherwise.

Hold 7530 = market can keep chopping/pinning.
Lose 7530 = watch 7500–7480 gamma flip zone.

https://t.co/G4TdVfg2Fy
$SPY $SPX $QQQ $VIX #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPY morning open read:

The market is digesting yesterday’s headline rally after the U.S./Iran deal announcement, with futures mostly flat this morning while SpaceX continues to squeeze higher.

BOJ gave the market nothing unexpected overnight, oil is cooling, and now attention shifts to a very options-heavy week:

VIXpiration tomorrow
FOMC tomorrow
Quad witching Friday
SpaceX options begin trading today

That combination could keep the market more muted/choppy in the short term as traders wait for the Fed and options flows start to matter more.

Current ZeroGEX levels:
Spot: ~$755
Call Wall: $760
Put Wall: $745
Gamma Flip: ~$745
Max Pain: $750
Net GEX: +$3.84B

ZeroGEX dashboard has shifted to:

Regime: Chop / Range
Bias: Range Fade
Playbook: Mean Reversion

Translation: after yesterday’s headline-driven melt-up, this is not a clean chase setup yet.
Above 755 / 756 = bulls can grind toward 760.
Reject here = watch 750, then 745 support.
Until FOMC clears, I’d expect more acceptance/rejection trading than a clean directional move.

https://t.co/G4TdVfg2Fy

$SPY $SPX $QQQ $VIX #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPY post-market recap:

Headline fuel carried the day.

SpaceX hype + Trump’s Iran “deal reached” announcement helped push SPY up +1.75% to around 754.62, but the options map did a pretty good job framing the close.

ZeroGEX levels at close:

Spot: 754.67
Call Wall: 755
Put Wall: 745
Gamma Flip: ~741
Net GEX: +$4.50B
Call GEX: +$9.08B
Put GEX: -$4.15B

The key takeaway:

SPY spent the afternoon pinned right around the 755 call wall.

That’s classic positive-gamma behavior: big rally, then compression near the largest resistance/magnet zone instead of a clean runaway breakout.

As long as SPY stays above the gamma flip near 741, the broader structure remains constructive.

But for continuation, bulls likely need to turn 755 from resistance/pin into acceptance.

Above 755 = room to keep grinding.
Lose 755 = watch 750, then 745 put-wall support.

https://t.co/G4TdVfgAv6

$SPY $SPX $QQQ $VIX #StockMarket #OptionsTrading #Gamma #GEX #0DTE

[ZeroGEX @zero_gex70930]

$SPX / $SPY midday read:

Headline fuel is doing the heavy lifting today.

SpaceX rally continuation + Trump’s “deal reached” announcement have helped push the market into a strong trend day, but the options map is now showing a more interesting setup.

Current ZeroGEX levels for $SPX:

Spot: ~7560
Call Wall: 7600
Put Wall: 7550
Gamma Flip: ~7400
Net GEX: +$20.8B

The broader structure is still bullish above the gamma flip, but price is now sitting between put-wall support at 7550 and call-wall resistance at 7600.

With positive gamma built out around 7550, that area may act like a magnet / pin zone into the close unless we see a meaningful shift.

That makes this less of a clean chase and more of a “can buyers defend 7550 and make another run at 7600?” setup.

Above 7600 = bulls can unlock continuation.
Lose 7550 = first real sign the headline melt-up is cooling.

https://t.co/G4TdVfgAv6

$SPX $SPY #SPX #SPY #OptionsFlow #Gamma #GEX #0DTE #OptionsTrading #StockMarket

[ZeroGEX @zero_gex70930]

Exactly. $SPY looks pinned in positive gamma for now.

750–755 is the key box.

Below 755, the call wall can cap/chop price. Above it with acceptance, especially if gamma starts rolling higher, the next upside leg can unlock.

Until then, this looks more like controlled melt-up / pin behavior than a clean breakout chase.

[ZeroGEX @zero_gex70930]

$SPY Monday Open Read

$SPY opened strong and is now pressing right into the 755 Call Wall.

Current ZeroGEX levels:

Spot: ~754
Call Wall: 755
Put Wall: 745
Gamma Flip: 741/742
Net GEX: +$4.77B
Put/Call Ratio: 0.57

Clean read:
Bulls have control above the gamma flip, but 755 is the first real test.
If $SPY accepts above 755, this can keep melting higher toward the next upside magnets.
If it rejects here, I’d watch for a pullback toward 750, then 745 as the major support / put-wall zone.
Regime is still Trend Up, but confidence is only 3/10, so I’m not blindly chasing the first push.

The headline pump is real. The question is whether 755 becomes acceptance or rejection.

Built with ZeroGEX:
https://t.co/vvk6I9QO3R

Know the levels that matter before price gets there.

[ZeroGEX @zero_gex70930]

$SPY Monday Prep

Coming into Monday, the setup is pretty interesting.

SPY is sitting around 742, with the key ZeroGEX levels from end of Friday showing:

Call Wall: 750
Gamma Flip: 744.33
Put Wall: 730

So the clean read is:
Above 744–745, bulls likely stay in control and the market can keep chasing toward 750, especially if we get more Iran-deal headline fuel.

But below 744, this is still not a fully clean breakout structure. A rejection there keeps SPY vulnerable to rotation back toward 740, then potentially 730 if momentum fades.

The market feels like it wants to believe every bullish headline right now — or at least front-run the pump those headlines can create.

That’s exactly why I track gamma levels in real time.

They don’t predict the news.
They show where price is most likely to react when the news hits.

Built with ZeroGEX:
https://t.co/vvk6I9QO3R

Know the levels that matter before price gets there.

[ZeroGEX @zero_gex70930]

$SPY midday:

SpaceX IPO is live, but SPY hasn’t exactly gone full rocket ship yet.

So far it’s been chop around the key levels.

ZeroGEX read:

Spot: ~$742
Gamma flip: $744.8
Call wall: $745
Put wall: $740
That is a very tight range.
Above $745 and bulls may get another shot higher.
Below $740 and this can quickly turn from “launch party” back into “watch your downside.”

Market feels excited, but structure is still making it prove it.

#SPY #0DTE #OptionsTrading #GammaExposure

[ZeroGEX @zero_gex70930]

@leadlagreport This 44-rep video with what looks like ~65–75 lbs is believable. That roughly estimates to a 160–185 lb 1RM, which seems realistic for his build.
The 315-lb bench video from a couple months ago? Come on, that’s NFL linebacker strength.

[ZeroGEX @zero_gex70930]

Anyone who has spent real time under a barbell knows the truth here.

A 315 lb bench is not one of those “maybe he’s stronger than he looks” numbers. It has a look. It has a build. It has a bar speed. It has years of evidence behind it.

Hegseth claiming 315 is so absurd that we don’t even need to debate it.

Lifters hear it, laugh, and move on.

[Michael A. Gayed, CFA @leadlagreport]

Unpopular opinion: the broader stock market closes deep red tomorrow, led by SpaceX down heavy.

[ZeroGEX @zero_gex70930]

💯

Ever since the April 9, 2025 TACO pump — that monster 10% rip — everyone has been conditioned to treat these headlines like a starting gun.

Bears are terrified of getting decimated.

Bulls have FOMO.

So “proposed” becomes “accepted,” “talks” become “deal imminent,” and suddenly we’re all front-running the reaction before anyone reads the fine print.

The tape isn’t pricing reality.

It’s pricing the reflex.

[ZeroGEX @zero_gex70930]

$SPY premarket:

After a rough pullback this week, yesterday’s Trump/Iran headline gave the market a serious bid.

Now we’ve got SpaceX IPO hype, PDT rules gone, and Friday morning FOMO in full force.

ZeroGEX levels I’m watching:

Spot: ~$740
Gamma flip: ~$743
Call wall: $750
Put wall: $730
SPY is still below the flip, so I’d be careful assuming this is fully “safe” yet.
Above $743 and bulls may try to press toward $750.
Lose $740 / fail back lower, and $730 is the big level underneath.

Feels like a party tape this morning — just don’t forget where the exits are.

Follow the live levels: https://t.co/vvk6I9QO3R