Dealer Exposure Map — July 7, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-07-07
Markets indicate potential volatility for SPY and stability for QQQ as we approach key max pain levels.
Report
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 -1.40e+6. These negative delta values imply that dealers are likely positioned to hedge against declines in stock price, which could amplify selling pressure if markets start to drop.
Frequently Asked Questions
What is max pain in options trading?
Max pain is the price point at which the maximum number of options expire worthless, often influencing trader sentiment.
How does total gamma exposure affect option traders?
Total gamma exposure measures the sensitivity of delta; negative gamma can lead to increased volatility as dealers adjust their hedges.
Why is delta exposure important for traders?
Delta exposure shows how much a dealer's position will change with the underlying asset's price, affecting their risk management strategy.