← AlgoxFlow
SPY's own gamma tool reported a zero-gamma flip of 665.10 this morning — 13.4% below spot, worth catching rather than repeating. Pulling the raw per-strike data directly: the chain crosses from negative to positive cleanly between 770 (−$393.7M) and 771 (+$143.3M) — nowhere near 665. The call wall (772, +$467.4M peak) and put wall (769, −$502M trough) both check out fine against the raw data, so only the flip needed correcting; the corrected level used below is ~770.5, the real crossing point.
With that fixed, the bigger story today is the watchlist itself: 7 of the 8 names with real options flow this morning are trading below their own flip. Only one (VST) is above. That's a meaningfully more one-sided read than this board has shown recently — the past two weeks mostly flagged names clustered razor-close to their flip on both sides. Today it's lopsided: real money is positioning into names where dealer hedging currently amplifies moves rather than damps them.
Spot, the put wall (769) and max pain (768) are all within a dollar of each other — a tight cluster right at the open. The corrected flip (~770.5) and call wall (772) sit just above that cluster, both still in play this morning. Reclaim and hold above ~770.5 and SPY moves into positive gamma with 772 as the next check; stay below it and today's negative-gamma read (consistent with the broader watchlist below) keeps dealer hedging amplifying the move rather than damping it.
Put wall · Call wall · flip and status pulled live per ticker, not estimated.
| Ticker | Spot | Flip | Call Wall | Status | Today's flow |
|---|---|---|---|---|---|
| SPCX | 158.46 | 159.68 | 160 | BELOW FLIP | $155C 10/16 — $1,109,597, the single largest print of the week so far, and $162.5C 10/16 — $115,885 — $1,225,482 combined. Both bullish, both struck right at the call wall, on a name just 0.76% under its own flip. |
| LITE | 1080.71 | 1138.69 | 1140 | BELOW FLIP | $1045P 10/9 — $395,920, already in the money. LITE is 5.1% under its own flip — real size, consistent with a genuinely negative-gamma structure. |
| SNDK | 1725.01 | 1895.98 | 1850 | BELOW FLIP | $1700P 10/16 — $258,400, struck close to spot. SNDK is 9.0% under its own flip, the deepest negative-gamma read on today's board. |
| VST | 144.47 | 144.34 | 145 | IN ZONE | $135C 12/18 — $234,525, a two-and-a-half-month-out bullish bet. VST is the only name on today's list above its own flip — by just 0.09%, razor-thin, but on the right side of the line. |
| TSLA | 368.31 | 379.80 | 377.5 | BELOW FLIP | $365C 10/16 — $140,699, a bullish bet on a name 3.0% under its own flip — betting against the current structure, not with it. |
| AMD | 628.60 | 654.76 | 645 | BELOW FLIP | $625P 10/5 (today) — $112,224, almost exactly at spot. A same-day bearish bet consistent with AMD sitting 4.0% under its own flip. |
| STX | 871.06 | 927.76 | 900 | BELOW FLIP | $832.5C 10/9 — $95,370, a bullish bet struck below spot. STX is 6.1% under its own flip — flow and structure disagree here. |
| MU | 1071.00 | 1118.43 | 1100 | BELOW FLIP | Two puts — $1060P 10/16 $71,255 and $980P 10/16 $62,146 — $133,401 combined, same expiry. Bearish, consistent with MU sitting 4.2% under its own flip. |
Two rows in today's raw sweeps feed — a TSLA put and a QCOM put, both tagged with a 10/2 expiry — are left off this list: that expiry already passed, so neither print describes a live position today.
This brief is the free levels-and-flow read. Inside the Discord you get the full R:R scanner — every name's flip, call wall and holdable status, ranked, plus the suggested contract (strike, expiry, ≤$5, near-money) for each. That's how the watchlist turns into a trade.
Get today's board →The top conviction names, the day's key levels and the heaviest options flow — free, every morning. No card, no Discord required.
No spam. Unsubscribe anytime. Just the daily flow.