Thread by @Fatty_Trades

Here is my morning summary of dealer positioning for both $SPX and $SPY. The data is provided by Vol.land and will help us formulate a plan for the day to inform our #optionstrading and #futurestrading. Show thread to see it all! 👇

Lets start with $SPX Vanna since it's a major driver. The Vanna repellent @ 4000 is present but light. Will become light accelerant if we get far enough above it. We still have a large magnet @ 4100 with repellents above that.

$SPX #Gamma is showing slight positive gamma support @ 3975 with gamma accelerant @ 4000 that will assist a move through it. Large resistance @ 4100 inline with the Vanna magnet.

Now let's do the same for $SPY using Vol.land. The $SPY #Vanna picture shows opposing magnets on either side of price which can create that choppy pinning effect. Downside magnets are lighter & out of reach. Upside magnet starts @ 405 as we approach that strike.

The $SPY #Gamma picture shows negative accelerants below when under 397, which will assist price movement through it with positive gamma resistance above starting @ 405 which will cause slow upward movement.

We need to make sure we keep all the upcoming macro number releases in mind as they are the big fundamental drivers of the market. We had PPI this morning & BoJ CPI last night. Both caused muted moves so far. Jobless claims tomorrow.

That's all for the dealer positioning side of $SPY and $SPX - 400/4000 remain the key level to break. If you are interested in viewing & using this data plus more with hundreds of other assets, use coupon code “FattyTrades” for a 10% discount!