Dealer Exposure Map — July 22, 2026 | Pushing Profits

Market Overview - July 22, 2026 Today's dealer exposure data reveals significant positions in the SPY and QQQ options markets. SPY shows a max pain level of $743.00, indicating a price point where options are least profitable, suggesting potential stabilization. Meanwhile, the total gamma exposure of -492,000 reflects a bearish sentiment among traders. On the other hand, QQQ presents a max pain of $714.00, which is slightly more favorable for a bullish outlook. The total gamma exposure here is positive at 70,200, giving traders room for caution while being aware of the potential for upside movement. The total delta exposure in SPY at -2,000,000 signals a strong bearish bias among options traders, which could lead to increased volatility as expiration approaches. In contrast, QQQ’s delta exposure of -285,000 suggests less pressure in that market. Consider the max pain levels when strategizing trades, as they highlight potential price magnet points. Increased gamma exposure can indicate upcoming volatility, crucial for planning short-term trades. The contrast in delta exposure between SPY and QQQ underscores different market sentiments, and traders should align their strategies accordingly.