This week is especially exciting because, on Thursday, we’ll be releasing our automatic GEX level indicator! (Halloween night, yes, very spooky...)Here's a little preview of what’s coming—just a few more days to go, and we can hardly wait!
Based on the key aggregated GEX levels valid as of today's market open, we can see that SPX started the week in a positive territory following last week's minor correction. Currently, the gamma profile suggests positive outlooks through Friday as the market opened above the HVL level, which is now at 5820.
The primary levels to watch are:
Call Wall (5900): This level, with the highest positive Net GEX value, may serve as a strong resistance point this week. As the price approaches this level, upward momentum may slow as market liquidity tends to stabilize movements here.
Put Support (5800): This is the key support level where negative gamma presence helps cushion price declines. Should the price dip below this level, moves might accelerate, so it’s worth monitoring movements around 5800.
With the gamma profile above the current HVL level (5820), GEX is positive, which can help stabilize the market and support further gains. Observing options market dynamics, this level suggests the direction of momentum, where market participants may anticipate further upside. As we saw last week, this level could mark a point of heightened volatility for SPX!
Additional important levels, like the 2nd Call Wall and 2nd Put Wall, can also be seen on the chart, providing potential barriers and support points for price movements throughout the week. Gamma levels are updated multiple times daily and may shift with market moves.