Dealer Exposure Map — October 14, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-10-14
Today's dealer exposure shows SPY stabilizing near $761 while QQQ indicates increased volatility risks around $727.
Report
On October 14, 2026, the Dealer Exposure Map highlights significant insights for traders, particularly focusing on SPY and QQQ options. With SPY showing a max pain level at $761.00, the total gamma exposure stands at 16,400 and total delta exposure reaches 95,500 across 20 contracts. This suggests that as SPY approaches $761.00, dealers may need to hedge their positions, indicating potential price stabilization around this level.
Conversely, QQQ indicates a more bearish sentiment, with a max pain level of $727.00 and both total gamma and total delta exposure at -373,000 and -5,080,000 respectively. This negative gamma exposure hints at an increased risk of volatility, suggesting that as QQQ approaches $727.00, the market may experience more erratic price movements.
Traders should take note of these contrasting exposures. While SPY may aim for stability around its max pain threshold, QQQ's negative exposure could lead to cautious strategies or protective positions being employed.
Frequently Asked Questions
What is max pain?
Max pain is the price level at which the largest number of options contracts will expire worthless, typically creating price pressure around that level.
How does gamma exposure affect trading?
Gamma exposure indicates how sensitive a dealer's options position is to price changes; positive gamma can stabilize price movement, while negative gamma might increase volatility.
What does high delta exposure signify?
High delta exposure means that a significant number of options traders are taking positions that are likely to closely follow the price movement of the underlying asset.