Dealer Exposure Map — July 16, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-07-16
Market data reveals bearish sentiments in SPY and QQQ, suggesting volatile conditions ahead.
Report
Daily Dealer Exposure Insights - July 16, 2026 Today's data reveals interesting insights about dealer exposure in major indices, particularly with SPY and QQQ. Both indices are experiencing negative gamma and delta exposures, which indicates potential volatility ahead. For SPY, the max pain level stands at $737.00, while total gamma exposure is at -53,000, and the total delta exposure is at -600,000 across 20 contracts. This suggests that dealers are hedging against downward price movements as traders might be leaning towards bearish positions. On the other hand, QQQ shows a max pain of $703.00, with total gamma at -32,400 and delta at -1,550,000 across the same number of contracts. Again, the negative values signal a defensive stance likely due to anticipated selling pressure in the near future. Traders should prepare for possible fluctuations as the market adjusts to these exposures.
Frequently Asked Questions
What is max pain and how does it affect options trading?
Max pain refers to the price at which the greatest number of options contracts expire worthless, often influencing traders' strategies as they anticipate price movements.
What does negative gamma exposure mean for traders?
Negative gamma exposure indicates a potential for increased volatility, as it implies that dealers may need to adjust their hedging strategies in response to market movements.
Why should I care about delta exposure in options trading?
Delta exposure helps traders understand how sensitive an options position is to price changes in the underlying asset, influencing decisions around risk management.