ES Options Analytics — Market Brief

ES — Futures price

SPX — Index price

ES–SPX Basis — Conversion offset

Gamma Regime — Dealer hedging environment

Net GEX — Estimated net gamma exposure

Bias — Waiting for data

CURRENT READ

Market Interpretation

Waiting for the latest options snapshot.

SCENARIO MAP

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BOTTOM LINE

Waiting for data.

ES LEVELS

EXPLANATIONS

Positive Gamma

Dealer hedging can dampen moves and encourage rotation or pinning around important option strikes.

Gamma Decision

The current collector uses the strongest negative-gamma strike as a decision level. A true gamma-flip calculation can replace this later.

Max Pain

The settlement level that minimizes aggregate option-holder intrinsic value across the selected expiration.

Expected Move

The current expected range derived from the ATM straddle calculation in your collector.