Mar 26, 06:28 PM

S&P 500 Tests 5700 Support Amid Elevated Volatility, SPY at 563.98, QQQ at 480.12, March 31 Expiration

The S&P 500 Index (SPX) is currently testing the key support level of 5700, following a drop below 573.50 for the SPDR S&P 500 ETF Trust (SPY). As of the latest updates, the SPX has shown a slight bounce off the 5700 mark, but volatility remains high, with the Cboe Volatility Index (VIX) reflecting elevated market uncertainty. The SPX's net gamma exposure has plunged to -939 million, indicating a put-dominated market environment, with heavy put volume concentrated between 5700 and 5720. Resistance levels for calls are identified at 5800 and 6000. The situation is further complicated by the upcoming March 31st expiration, which includes a significant collar position from JPMorgan, suggesting potential market movements as traders adjust their positions.

#Cboe Volatility Index #JPMorgan

Written with ChatGPT (GPT-4o mini).

Sources

Menthor Q@MenthorQpro
1 year ago
SPX firmly in a put-dominated, negative gamma regime. Net GEX plunging to -939M, DEX down 55% on the day. Heavy put volume at 5700–5720, with call resistance stacked at 5800/6000. Volatility remains elevated—expect continued instability unless positioning shifts $SPX https://t.co/S7XVeyBJwR
Heisenberg@Mr_Derivatives
1 year ago
$SPY 563.98 $QQQ 480.12 Gotta be mindful of these gap fills below.
Scott Redler@RedDogT3
1 year ago
$spy 2:50 update as the day gave clues to adjust https://t.co/ZvTbCTdcFK

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