Dealers are long gamma again: net SPY GEX swung to $50.4M.
Elsewhere, Health Care led three-month relative strength at +12.3% with Communication Services at -8.8%, while 72% of S&P names hold their 200-day.
The S&P 500 closed at 7,429. Breadth reads 72% of members above the 200-day average and 72% above the 50-day. SPY itself holds 6.4% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 59 to 0. The VIX sits at 18.2 — unremarkable.
On the options side, net GEX on SPY sits at $50.4M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $742 with the put wall at $742. Into the 2026-08-21 expiry, the straddle implies a SPY move of about ±$22.96, or ±3.1%. For QQQ the same horizon prices ±5.41%.
Sector-wise, the strongest three-month showing against SPY comes from Health Care (XLV) at +12.3%, ahead of Financials at +7.0%. Communication Services (XLC) brings up the rear at -8.8%; Consumer Discretionary is next-weakest at -8.1%.
This note is auto-generated from Tapelab's nightly market data. It reports what the data said on the date above — research commentary, not investment advice.