Dealers are long gamma again: net SPY GEX swung to $19.1M.
Elsewhere, Health Care led three-month relative strength at +16.6% with Semiconductors at -14.2%, while 64% of S&P names hold their 200-day.
The S&P 500 finished the session at 7,667. Under the surface, 64% of index members are above their 200-day moving average and 46% are above their 50-day. New 52-week lows outnumber new highs 13 to 8. Volatility is unremarkable, with the VIX at 15.2.
On the options side, net GEX on SPY sits at $19.1M across tracked expiries — a dealer-long-gamma read on delayed CBOE data. The call wall stands at $765 with the put wall at $765. Into the 2026-09-03 expiry, the straddle implies a SPY move of about ±$3.91, or ±0.51%. For QQQ the same horizon prices ±0.74%.
Across sectors, Health Care (XLV) leads on three-month relative strength versus SPY at +16.6%, with Energy next at +11.1%. At the other end, Semiconductors (SMH) lags at -14.2%, with Technology not far ahead at -7.9%.
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.