The S&P 500 Index ($SPX) experienced significant volatility on September 26, 2024, with key levels being tested throughout the day. The index faded from a high and hovered around the 5750 strike, influenced by a large JPM collar volume set to expire on Monday. Seller exhaustion was observed above the 5750 level, which is marked as a potential volatility trigger. If the index falls meaningfully below this level, it could lead to increased market instability. The 5720 support level held firm by the end of the trading day. Additionally, the most active put strike rolled lower to the $ES_F 5786.5 level.