Dealer Exposure Map — October 16, 2026 | Pushing Profits
Category: Dealer Exposure Map | Date: 2026-10-16
Traders face a bearish outlook as SPY and QQQ show significant negative dealer exposure.
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Market Overview for October 16, 2026
Today’s options data reveals significant dealer exposure in both SPY and QQQ. Max pain levels suggest where traders are likely to face losses by options expiration, with SPY at $782.00 and QQQ at $737.00.
SPY shows a total gamma exposure of -38,800, indicating a bearish sentiment among market makers. With a total delta exposure of -294,000 across 20 contracts, this suggests a significant number of traders are positioned for a downturn.
Similarly, QQQ’s total gamma exposure of -67,100 and total delta exposure of -404,000 further solidify the negative outlook. This could point to increased volatility; traders should be cautious as the market navigates these conditions.
Frequently Asked Questions
What is dealer gamma exposure?
Dealer gamma exposure indicates the sensitivity of the dealers' positions to changes in the underlying asset's price, helping traders assess potential volatility.
How does max pain affect options trading?
Max pain represents the price point where the most options expire worthless, often influencing trader sentiment and pricing strategies as expiration approaches.
What should I do if I see high negative delta exposure?
High negative delta exposure suggests that market makers are positioned for potential downside, which could indicate broader bearish sentiment in the market.