Dealer Exposure Map — July 24, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-07-24
Today's market findings highlight significant dealer exposures in SPY and QQQ, pointing to volatile trading conditions ahead.
Report
Market Overview - July 24, 2026 Today's analysis of dealer exposure reveals significant gamma and delta figures for both SPY and QQQ options. SPY is currently experiencing a max pain level at $752.00, indicating where most options will expire worthless, while its total gamma exposure sits at -11,500 and total delta exposure at -436,000 across 20 contracts. For QQQ, the max pain point is located at $677.00, suggesting a similar outcome for options at this level. Its gamma exposure is notably higher at -152,000, with delta exposure reaching -2,020,000 across 20 contracts, hinting at a stronger influence on market movements. Traders should take these figures into account, as negative gamma suggests increased potential volatility and heightened risks for directional trades. Understanding the max pain level can also guide traders in making decisions related to opening or closing positions as expiration approaches.
Frequently Asked Questions
What is dealer gamma exposure?
Dealer gamma exposure measures how much dealers will need to hedge their positions as the underlying asset moves, affecting market volatility.
What does max pain mean for options traders?
Max pain represents the price at which the highest number of options contracts expire worthless, often influencing market behavior as expiration approaches.
How can I use gamma exposure in trading strategies?
Understanding gamma exposure can help traders anticipate volatility shifts, enabling them to adjust their strategies for risk management or profit maximization.