Daily Brief — Wed Oct 21, 2026: SPY's GEX Levels + Today's Watchlist | AlgoX Flow AlgoxFlow← AlgoxFlow
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Daily Brief · GEX levels + watchlist

Daily Brief — Wed Oct 21, 2026

SPY opens 0.24% under a 772.49 flip, with a +$459M call wall at 773 right above it — the chain is back to net long gamma (+$1.04B) after yesterday's −$1.23B, and implied vol has halved to 15. Plus 8 names with real options flow, led by SPCX switching from puts to $501K of 0DTE calls on the call wall.
Tape: mixed — chain is net long gamma (+$1.04B), spot sits 0.24% under the feed's 772.49 flip SPY: 770.66 +0.21% pre-market, 1.83 under the flip Exp move: ±0.6% 0DTE — ±$4.39 (766.27–775.05), down from ±1.1% yesterday Bias: 773 is the wall (+$459M); 765 put wall is much thinner (−$148M) than yesterday's −$587M

1 · The one thing that matters today

SPY map 12:31 UTC · sweeps 12:44 UTC · pre-market

SPY (770.66) opens 1.83 under its flip and 2.34 under a 773 call wall that holds +$459M — the largest strike on the board. The feed's flip is 772.49, only 0.51 below that wall, so the whole upside question today is one two-point stretch. Max pain is 769. The 0DTE expected move is ±0.6% ($4.39), which puts the day's range at 766.27–775.05, and implied vol (ATM) reads 15 versus 29 yesterday.

The map improved a lot overnight. Yesterday's chain was −$1,230M with no flip returned and every strike from 752 to 767 negative. Today the chain total is +$1,044M (+$1,552M above spot, −$508M below). The ladder now turns positive at 768 — 2.66 under spot — and stays positive through 784, summing to +$1.85B. Everything from 757 through 767 is still negative, eleven strikes totaling −$726M, but the put wall at 765 has thinned from −$587M yesterday to −$148M. The feed's flip (772.49) still tags the regime negative because spot is under it, while the chain total is positive; the ladder shows the same split.

Same put wall, new call wall. 765 has been the put wall in all three briefs this week, now 5.66 under spot. The call wall has moved up from 770 to 773. SPY's implied prior close is about 769.05 (from the +0.21% pre-market change), a little under yesterday's 770 wall, so spot is rising into a map that no longer has the deep trench under it. This feed carries only the 0DTE chain (one expiry, 250 contracts), so open interest further out is not in these numbers.

2 · SPY GEX levels

live · algoxflow.com/gex?ticker=SPY
Spot
770.66
+0.21% pre-market
Zero-gamma flip (feed)
772.49
+0.24% above spot
Call wall
773
+0.30% above spot
Put wall
765
−0.73% — 5.66 below spot
Max pain
769
0DTE · −0.21%
Expected move
±0.6%
($4.39 · 766.27–775.05)

Net gamma by strike near spot: 760 −$64M, 761 −$33M, 762 −$46M, 763 −$90M, 764 −$66M, 765 −$148M, 766 −$116M, 767 −$94M, 768 +$71M, 769 +$134M, 770 +$138M, 771 +$161M, 772 +$122M, 773 +$459M, 774 +$148M, 775 +$184M, 776 +$138M, 777 +$117M, 778 +$66M. One seam between 767 and 768, then positive all the way up, with 773 standing at more than three times its neighbors.

3 · The watchlist — 8 names with real flow behind them today

sourced from the sweeps feed, checked against each name's own gamma structure

Flip · Call wall · flip and status pulled live per ticker, not estimated. No name on the board is inside the half-percent line; SPCX is the closest at 0.66% above its flip.

TickerSpotFlipCall WallStatusToday's flow
SPCX 159.95 158.90 160 ABOVE FLIP $160C 0DTE — five prints for $501,367 ($148,558, $109,875, $88,309, $87,308, $67,317), all struck on the 160 call wall, plus a $200C 1/15/2027 for $124,163 and a $165C 10/23 for $51,204: $677K of calls against $181K of $135 puts. SPCX is up 8.3% and sits 0.03% under that wall. This breaks the pattern from the last three briefs, when puts led the board at 150, 140 and 140.
HOOD 100.83 106.01 103 BELOW FLIP $92P 10/30 — $442,470 plus a second $92P for $31,605: $474K of puts 8.8% under spot, the biggest single print on the board. Against it, a $120C 2/19/2027 for $324,000, 19% out of the money. HOOD is up 2.6%, 4.9% under its flip, with the 103 call wall 2.2% overhead and the 95 put wall 5.8% below.
SMCI 36.81 36.05 36.5 ABOVE FLIP $35C 10/30 for $108,770 and a $35C 11/6 for $19,282 (both in the money), against $31P 10/23 prints of $52,930 and $26,733: $128K of calls to $80K of puts. SMCI is up 13.3%, 2.1% above its flip and 0.84% over its 36.5 call wall, with the 33 put wall 10.4% below.
QCOM 177.30 183.31 185 BELOW FLIP One print: $175P 11/20 for $205,000, 1.3% under spot. QCOM is up 0.9% and 3.3% under its flip, with the 185 call wall 4.3% overhead and the 160 put wall 9.8% below.
NFLX 63.74 — 71 NO FLIP Seven prints, six of them calls: $76C, $69C, $72C, $70C and $75C all 10/23 for $165,742 combined, plus a $90C 1/15/2027 for $18,600, against one $65P 10/23 for $16,799. NFLX is down 7.2% and sits 2.0% under its 65 put wall with the 71 call wall 11.4% overhead. No reliable flip.
GME 26.30 — 27 NO FLIP One print: $25C 10/30 for $199,110, 4.9% in the money. GME is down 0.6% with the 27 call wall 2.7% overhead and the 25.5 put wall 3.0% below. No reliable flip.
XPEV 9.46 — 10 NO FLIP One print: $13C 1/21/2028 for $186,302, 37% above spot and more than a year out. XPEV is down 4.5% and sits 0.42% under its 9.5 put wall, with the 10 call wall 5.7% overhead. No reliable flip.
META 691.65 746.74 740 BELOW FLIP One print: $800C 11/20 for $177,230, 15.7% above spot. META is down 0.4% and 7.4% under its flip, with the 700 put wall just 1.2% above spot and the 740 call wall 7.0% above.

4 · How to trade today

the plan
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Educational content, not investment advice. Pre-market figures and gamma levels are indicative and move fast — re-check into the cash open. Options carry a substantial risk of loss. Trade your own plan.
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