Market Overview As of June 5, 2026, the options market reveals interesting insights into dealer exposure for two major ETFs: SPY and QQQ. Traders should pay close attention to the max pain levels and gamma exposure as they can influence price movements and trading strategies. SPY Insights For SPY, the max pain point sits at $757.00, indicating the strike price where options holders are likely to incur the most losses. With a total delta exposure of 7.23 million across 20 contracts, it suggests that dealers may need to adjust their positions to mitigate risk, potentially impacting SPY's price m
