Dealer Exposure Map — October 7, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-10-07
SPY's negative gamma suggets volatility at max pain of $763, while QQQ displays bullish signs at $760.
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Market Overview for October 7, 2026
Today's dealer exposure map highlights significant gamma and delta positions for SPY and QQQ options. Traders should pay close attention, as these metrics can influence market movements and indicate potential volatility.
The SPY options market shows a maximum pain level at $763.00, with a total gamma exposure of -247,000 and a total delta exposure of -2,280,000 across 20 contracts. This suggests that market makers are likely positioned to benefit if SPY remains below the max pain point.
On the other hand, QQQ is positioned at a maximum pain level of $760.00, with total gamma exposure of 79,100 and total delta exposure of 2,140,000 across 20 contracts. This indicates a more bullish outlook for QQQ, with the potential for upward price movements as traders react to these levels.
SPY's negative gamma indicates it may experience increased volatility as price approaches the max pain level.
QQQ's positive delta signals expectations for upward price trends, enhancing bullish sentiment among traders.
Frequently Asked Questions
What is max pain in options trading?
Max pain refers to the price level at which the majority of options expire worthless, causing maximum financial pain to option holders.
How does gamma exposure affect options positions?
Gamma exposure indicates how much an option's delta will change with a $1 change in the underlying asset, influencing market volatility.
Why is delta exposure important for traders?
Delta exposure reflects the sensitivity of an option's price to changes in the underlying asset's price, helping traders understand potential risk and reward.