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SPY closed the week around 747 in deeply positive gamma with realized vol crushed (0DTE IV near 9%) — dealers pinning it between the 741 put wall and the 750 call wall. On its own, that's a calm, mean-reverting, pin-toward-740 tape.
The tension: QQQ has flipped negative gamma (below its ~690 shelf). Tech is where dealers now amplify moves — and this week's marquee reports (AMD, PLTR, SHOP, NET) are all tech. So you've got a calm index sitting on top of a jumpy Nasdaq into a wall of catalysts. New to this? What is gamma exposure →
It's one of the heaviest weeks of the season. The implied move is what the options are pricing for the post-earnings swing — click any ticker for its full earnings analyzer (implied vs how it actually moves).
| Day | Name | Implied move | The story |
|---|---|---|---|
| Mon 8/3 | PLTR | ±9.7% | The AI-software bellwether — Agentforce/gov momentum in focus. Huge implied swing. |
| Mon | FANG · VRTX · OKE | ±5–7% | Energy + biotech round out a busy Monday. |
| Tue 8/4 | AMD | ±8.4% | The week's marquee chip print — AI/data-center guidance is the whole ballgame. |
| Tue | ANET · CAT · MRK · AMGN | ±4–10% | ANET (AI networking) carries a ±9.5% implied move; CAT is the industrials read. |
| Wed 8/5 | LLY · DIS | ±5–6% | GLP-1 giant + the media/parks bellwether — two very different macro tells. |
| Wed | SHOP · UBER · WDC | ±6–12% | SHOP (±10.7%) and WDC (±11.7%) are the high-beta movers of the day. |
| Thu 8/6 | NET · CEG · DDOG | ±6–11% | NET (±10.5%) and DDOG keep the software vol going; CEG is the AI-power name. |
| Fri 8/7 | OKLO · VST · TTWO | ±7–11% | Nuclear/AI-power longshots into the jobs number. |
Reminder: a big implied move isn't a prediction of direction — it's the size of the swing the options are pricing. The edge is knowing whether that's cheap or rich vs how the stock actually reacts. Our earnings analyzer flags it per ticker.
🗓️ Jobs report — Friday, Aug 7, 8:30am ET. The monthly nonfarm payrolls print is the week's biggest macro catalyst and can override every individual chart. A hot number revives rate worries (pressure on high-multiple tech — which is already in negative gamma); a soft number fuels the cut narrative. Expect the tape to coil into Friday morning and then move on the release. Early-week ISM data adds smaller nudges, but Friday's the one to plan around.
The playbook: while SPY holds 741, fade the extremes of the pin. But respect that QQQ is the volatile side — with AMD, PLTR, SHOP and NET all reporting, one big tech reaction can drag the whole Nasdaq and eventually pull SPY off its pin. Let the catalysts (and Friday's jobs number) set direction; don't fight the first impulse. See any ticker's live map on the free gamma tool.
The gamma map, the day's expected moves and the setups — free, before the bell.
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