Why the S&P 500 and Nasdaq-100 rose or fell today — explained through options dealers' gamma / delta positioning, with key levels. Data delayed 30 minutes, free to view.
数据缺口，无法形成叙事
2026-07-04 S&P 500 E-mini Futures (ES) / SPX Index Options 当日 GEX 1m 数据捕获不足 30 分钟（实际 0 min），无法形成 dealer-positioning 叙事。可能原因：数据采集服务中断、当日为半休市、或假期。建议查看下一交易日复盘。
数据缺口，无法形成叙事
2026-07-04 NASDAQ-100 E-mini Futures (NQ) / NDX Index Options 当日 GEX 1m 数据捕获不足 30 分钟（实际 0 min），无法形成 dealer-positioning 叙事。可能原因：数据采集服务中断、当日为半休市、或假期。建议查看下一交易日复盘。
数据缺口，无法形成叙事
2026-07-04 CBOE Volatility Index (VIX) 当日 GEX 1m 数据捕获不足 30 分钟（实际 0 min），无法形成 dealer-positioning 叙事。可能原因：数据采集服务中断、当日为半休市、或假期。建议查看下一交易日复盘。
GEX (Gamma Exposure) measures options market-makers' hedging pressure. When net GEX is positive, dealers sell rallies and buy dips, suppressing volatility (range-bound); when negative, they chase moves, amplifying volatility (trending). The daily recap uses this dealer lens to explain why the market moved today.
Key levels here (Call Wall = upside resistance, Put Wall = downside support, Zero Gamma = regime flip) are shown with a 30-minute delay; the daily narrative is generated after the close from full-session minute-level GEX data. The live 15-second terminal and full 4-layer structure stay behind the paywall.
How to use it: above Zero Gamma favours mean-reversion (ranges); below favours breakouts (trends). Rallies into the Call Wall tend to stall; sell-offs into the Put Wall tend to get absorbed. Treat them as reference zones, not exact reversal points.
Public GEX levels are shown with a 30-minute delay for free access and education; second-level live data and full distributions are the core value of the paid terminal. The recap narrative is generated after the close by design.
The level snapshot regenerates every 10 minutes (always showing a frame from 30 minutes ago); the daily narrative is generated once after each US market close.
Currently the S&P 500 (SPX/ES), Nasdaq-100 (NDX/NQ) and VIX volatility. Registered users get more equities, indices, futures and crypto in the live terminal.
Traditional S/R comes from past price; GEX levels (Call Wall, Put Wall, Zero Gamma) come from current options positioning and dealer hedging. They migrate daily with open interest, showing where the money is actually pinned — closer to real intraday pressure zones.
That's exactly what the daily narrative answers: from net GEX sign (dealers suppressing vs amplifying volatility) and price position relative to Zero Gamma / Call Wall / Put Wall, it explains why the market ranged, trended, or stalled at a given level.
See which levels were validated (✅) or failed (❌) today, and whether the regime is long-gamma (range-friendly) or short-gamma (trend-friendly) — then build expectations for tomorrow. It is analysis, not a trade signal.
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Data on this page is delayed by ~30 minutes and provided for informational and educational purposes only — not investment advice. Markets carry risk; assess it yourself.