Dealer Exposure Map — October 1, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-10-01
Today's dealer exposure highlights contrasting pressures between SPY and QQQ, with differing gamma and delta positions influencing market sentiment.
Report
Market Overview for October 1, 2026
As we delve into the Dealer Exposure Map for today, SPY shows a total gamma exposure of -42,300 while QQQ displays a positive gamma exposure of 49,000. This contrast indicates differing trading pressures across the two indices.
The max pain levels are set at $758.00 for SPY and $735.00 for QQQ. These figures represent price points where options expire worthless for the largest number of contracts, suggesting potential points of support or resistance as traders adjust their positions.
For SPY, negative delta exposure of -352,000 indicates that dealers may be short on the index, which can lead to downward pressure if prices begin to move in that direction. Conversely, QQQ's positive delta exposure of 438,000 suggests that dealers are likely positioned to benefit from rising prices, reinforcing bullish sentiment.
Frequently Asked Questions
What is max pain in options trading?
Max pain is the strike price at which the most options expire worthless, indicating a potential pivot point for underlying asset prices.
How does gamma exposure affect traders?
Gamma exposure provides insight into how much delta will change as the price of the underlying asset moves, impacting trading strategies.
Why is understanding dealer delta exposure important?
Dealer delta exposure reveals market sentiment and positions dealers hold, helping traders anticipate potential price movements in the underlying assets.