Good Morning!

Our SPY analysis was spot on as we projected 690 to act as a magnet for SPY and pull the price upwards. As the day went on, we saw 695 become the magnet. We overlaid GEX information and price movement to show you the profound impact this info has!

690 started the day as the magnet and then once we flipped it to support you can see the green dots at 695 getting larger and larger throughout the day. That active gamma build is generally a prerequisite for the price going higher for SPY. This turned into another 100%+ gainer for us as we were positioned for the move accordingly.

Once again today, some of Wall Street whale’s biggest purchase were pretty signifcant. Let’s review:

This particular flow triggered the urgent repeater alert, which is my favorite. The crazy thing about this one is nearly $32 million of volume came through on this contract today. This one seems impactful. The strike price is OTM but not so much so that it can’t quickly become in the money with a few green days from META. These were filled aggressively with sweep orders and primarily filled at the ask, both of which are bullish. This one is on my list to watch tomorrow.

Also, just wanted to highlight that the urgent repeater flow we highlighted in yesterday’s email was up for nearly 2000% today!! Unfortunately, I had no position in this one! This was a crazy move.

We are stacked with positive gamma overhead and some thinner negative gamma below as we start the day today. The magnet node continues to be that $700 strike with a friday expiration. Based on what I see at the present moment, I believe the melt up towards 700 SPY continues today. We are still in a news driven market, but gamma exposure is starting to take more control again as the market has grown a bit numb to the constant news of back and forth in the geo political realm.

I’ll monitor this one throughout the day, but as of now a move up appears to be in the cards again today.

Happy Trading!

-Caleb Gregory