Dealer Exposure Map — September 8, 2026 | Pushing Profits

Market Overview for September 8, 2026 Today’s data highlights significant gamma and delta exposure for both SPY and QQQ options, indicating the potential for movement in underlying stocks. The max pain levels reflect the price points where option writers stand to benefit the most, guiding traders in their strategies. For SPY, the max pain level is at $777.00, with total gamma exposure at -150,000 and total delta exposure at -779,000 across 20 contracts. This bearish delta suggests that market makers may hedge against further declines, which could lead to increased volatility. In contrast, QQQ's max pain sits at $705.00, with total gamma exposure of 8.81 billion and total delta exposure also showing -8.81 billion across the same number of contracts. The extremely high gamma suggests sensitivity to underlying price changes, indicating that shifts near this max pain point could lead to sizable impacts on the index. Traders should remain cautious near these max pain thresholds, as they often serve as pivot points for price action. Monitoring gamma and delta can help traders anticipate potential pricing maneuvers in the options market.