Dealer Exposure Map — June 22, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-06-22
SPY shows bearish pressures while QQQ hints at bullish sentiment, leading to a mixed trading outlook.
Report
Market Insights on June 22, 2026 Today, the options market reveals key insights for traders as we analyze dealer exposure across major indexes. The SPY reports a max pain level of $750.00, with total gamma exposure at 2.61e+3 and total delta exposure sitting at -2.22e+4 across 2 contracts. These figures indicate that dealers are likely hedging against a downturn, suggesting potential selling pressure as the max pain point approaches. On the other hand, QQQ shows a different scenario with a max pain at $747.00 and total gamma exposure of 2.92e+5. Impressively, the total delta exposure here is much larger, at 1.54e+6 across 20 contracts. This indicates stronger bullish sentiment among traders, and dealers may be gearing up for upward movement as we near the max pain threshold. Traders should pay attention to these exposure levels, as they signal where significant buying and selling actions may occur. With SPY leaning bearish and QQQ showing bullish tendencies, a mixed trading environment is shaping up, encouraging tactical approaches based on individual contract dynamics.
Frequently Asked Questions
What is max pain in options trading?
Max pain refers to the strike price at which the greatest number of options expire worthless, impacting the underlying asset's price.
How does gamma exposure affect options trading?
Gamma exposure, indicating how much delta changes with price movement, can signal potential volatility in the underlying, impacting trader strategy.
What does negative delta exposure indicate?
Negative delta exposure suggests that dealers may need to sell the underlying asset to hedge their options positions, which can create downward pressure on prices.