Gamma flipped back long — $36.4M net SPY GEX puts dealers in dampening mode.
The VIX fell 22% to 19.9. Meanwhile, Health Care led three-month relative strength at +14.8% with Semiconductors at -12.9%.
The S&P 500 finished the session at 7,550. Breadth reads 63% of members above the 200-day average and 71% above the 50-day. SPY itself holds 3.2% above its own 200-day, keeping the long-term trend gate on. New 52-week highs outnumber new lows 27 to 2. The VIX sits at 19.9 — unremarkable.
SPY's dealer-gamma picture reads long gamma: net GEX of $36.4M across tracked expiries (delayed CBOE data). The call wall stands at $740 with the put wall at $760. Options price a move of roughly ±$6.08 on SPY (±0.81%) into the 2026-11-10 expiry. For QQQ the same horizon prices ±1.25%.
Across sectors, Health Care (XLV) leads on three-month relative strength versus SPY at +14.8%, with Consumer Staples next at +9.9%. At the other end, Semiconductors (SMH) lags at -12.9%, with Industrials not far ahead at -6.9%.
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.