Dealers are long gamma again: net SPY GEX swung to $37.7M.
The VIX fell 20% to 16.6. Meanwhile, Health Care led three-month relative strength at +15.6% with Semiconductors at -11.6%.
The S&P 500 finished the session at 7,689. Breadth reads 68% of members above the 200-day average and 73% above the 50-day. SPY itself holds 5.2% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 75 to 3. The VIX sits at 16.6 — unremarkable.
SPY's dealer-gamma picture reads long gamma: net GEX of $37.7M across tracked expiries (delayed CBOE data). The call wall stands at $775 with the put wall at $760. Options price a move of roughly ±$4.46 on SPY (±0.58%) into the 2026-11-05 expiry. For QQQ the same horizon prices ±1.12%.
Across sectors, Health Care (XLV) leads on three-month relative strength versus SPY at +15.6%, with Energy next at +9.5%. Semiconductors (SMH) brings up the rear at -11.6%; Industrials 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.