Market Overview On July 7, 2026, the Dealer Exposure Map reveals crucial insights into the options market for both SPY and QQQ. With SPY having a max pain level of $740.00 and a total gamma exposure of -6.36e+5, traders should be prepared for potential price volatility as we approach this level. For QQQ, the max pain sits at $716.00, accompanied by a total gamma exposure of -4.62e+4. This lower gamma indicates less potential for large price swings, suggesting that the market might stabilize around this max pain point. Traders should note the total delta exposures of SPY at -2.55e+6 and QQQ at
