Dealer Exposure Map — July 6, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-07-06
SPY shows higher gamma and delta exposure, indicating potential volatility, while QQQ suggests a steadier market response.
Report
On July 6, 2026, options traders are keeping a close eye on the SPY and QQQ for insights into market movements. The data shows that SPY has a max pain point of $744.00, indicating where option sellers would ideally like the price to settle to minimize losses. With a total gamma exposure of 1.09 million and delta exposure of 5.76 million across 20 contracts, SPY is poised for significant price sensitivity, meaning traders should be prepared for possible volatility. In contrast, QQQ has a lower max pain of $718.00 and total gamma exposure of 72,700, with total delta exposure at 812,000 across the same number of contracts. This suggests a calmer sentiment compared to SPY, potentially leading to a more subdued market reaction. Traders should monitor these values closely, as higher gamma exposure often signals increased potential for sharp price movements in the underlying asset.
Frequently Asked Questions
What is max pain in options trading?
Max pain is the strike price where the majority of options expire worthless, benefiting option sellers.
How does gamma exposure affect trading strategies?
High gamma exposure indicates that the underlying asset's price is sensitive to small moves, leading traders to adjust their positions.
Why should I care about delta exposure?
Delta exposure provides insight into the direction and magnitude of potential price changes, helping traders gauge market sentiment.