Dealer Exposure Map — August 13, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-08-13
Dealers show high gamma and delta exposures, highlighting potential market volatility in SPY and QQQ.
Report
Daily Market Report - August 13, 2026 Today's Dealer Exposure Map reveals critical insights for traders considering options in the SPY and QQQ markets. The SPY shows a max pain level of $787.00, suggesting that options contracts would expire at this price point, thereby benefiting option sellers. In contrast, the QQQ's max pain is lower at $717.00. This indicates that a significant number of options holders may experience losses if the underlying security does not reflect this level by expiration. Traders should be particularly mindful of total gamma and delta exposures. SPY has a total gamma exposure of 9,480 and a substantial delta exposure of 235,000 across 20 contracts. Meanwhile, QQQ boasts a higher gamma exposure of 205,000 and delta exposure of 1.47 million over the same number of contracts, hinting at increased sensitivity to underlying price movements. Understanding these metrics can assist traders in gauging market sentiment and potential volatility in both SPY and QQQ, enabling informed trading decisions.
Frequently Asked Questions
What does max pain mean for options traders?
Max pain is the price point at which the maximum number of options contracts expire worthless, often guiding traders on potential price targets.
How does gamma exposure affect my options trading strategy?
High gamma exposure indicates that the delta of an option can change quickly as the underlying asset price moves, suggesting heightened volatility.
Why is delta exposure important for traders?
Delta exposure reflects how much an option’s price is expected to move in relation to a change in the price of the underlying asset, informing risk management.