The market is in negative gamma.

That decides whether today tends to chop or trend. These are the levels where it’s decided.

NEGATIVE GAMMA

Dealers tend to amplify moves. Expect trend and wider swings. No flip within range today: dealer positioning is one-sided.

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SPY$765.16

Gamma Flipnone in range

Weekly Wall$759.75

Monthly Wall$753.25

Flow Line$761.00

QQQ$709.24

Gamma Flipnone in range

Weekly Wall$705.25

Monthly Wall$698.50

Flow Line$714.25

Why these levels

Gamma Flip

Above it, dealer hedging tends to dampen moves — chop. Below it, hedging tends to amplify them — trend. One line, read nightly from the options chain.

Dealer Walls

Where hedging pressure concentrates this week and this month — the prices where price has tended to react, because someone is forced to act there.

Flow Line

Where this week’s new options positioning actually went in — built from confirmed open interest, not guessed from intraday noise.

The math draws the lines; nothing here predicts. Levels are computed from end-of-day options data and locked before the open, so you can hold them against any chart.

This is the whole email

The gamma state up top, the SPY and QQQ levels underneath, one or two standout options flows, one chart. No essay, no fifteen links, no “markets were mixed.”

It lands before the open and takes about a minute. The levels are locked the night before, so you can hold them against any chart — including ours.

A real Trade Tracer daily email: the market's gamma state, then SPY and QQQ levels

The daily template, rendered exactly as it sends.

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The same levels across 40+ names, the flow that actually got opened, and the daily setups. We open a handful of spots a few times a year — the email list hears first.

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