Dealer Exposure Map — June 24, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-06-24
Traders face bearish signals today as SPY and QQQ show negative gamma exposure ahead of expiry.
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Market Overview On June 24, 2026, the dealer exposure map reveals significant insights into the trading landscape for SPY and QQQ options. With SPY's max pain level at $731.00 and total gamma exposure of -73,600, traders should be mindful of the bearish sentiment it indicates. Meanwhile, QQQ shows a max pain level of $704.00 alongside total gamma exposure of -8,500, signaling a similar trend. These negative gamma values suggest that both ETFs could experience increased volatility as they approach expiration. Traders often utilize the max pain theory to anticipate potential support and resistance levels, understanding that market makers may adjust positions to minimize losses. Monitoring gamma exposure can also provide hints about upcoming price movements, particularly in relation to delta exposure.
Frequently Asked Questions
What does max pain mean for options traders?
Max pain refers to the strike price where the largest number of options contracts expire worthless, often serving as a price target in the lead-up to expiry.
How does gamma exposure affect my trading strategy?
Negative gamma exposure can lead to increased volatility and market movements, making it crucial for traders to adjust their strategies accordingly.
Why is delta exposure important for options trading?
Delta exposure indicates how much an option's price is expected to move relative to the change in the underlying asset's price, helping traders gauge potential risk and reward.