GEX

MU – Relative Strength Into 1000, Call Gamma Squeeze Watch MU is showing clear relative strength: rebound from the 800 put wall, now at 992 and tapping 1000. Price is above HVL → positive GEX regime. That alone matters less than what sits overhead. 1000 is the real story — not just a round number. Same strike stacks: C1 — largest call-side net GEX (call wall) Ab1 — largest absolute GEX COI — highest call open interest CV — largest call volume today That’s a dense multi-metric reaction zone. Holding below keeps 1000 as the ceiling. A clean accept above 1000 on strong volume opens a positive extension zone with call gamma squeeze potential. Options backdrop is extreme: IVRank 87.5, CALL$ 86.8% (calls priced much richer than puts at equivalent distance — heavy call skew). Oscillator green histogram remains elevated on the right edge. Setup: strength + positive regime + max confluence at 1000. Break + volume → squeeze watch. Rejection → still a clean level to respect.

GOOGL GEX - 370 Call Wall Confluence GOOGL is pressing into the 370 zone on the daily chart — the highest call NETGEX wall and a prior resistance area that price has tested multiple times in recent sessions. The stock remains in a constructive uptrend, trading well above both the 50 SMA and 200 SMA . The immediate focus is not on distant extension levels yet, but on whether momentum can accept above 370 and open the positive GEX extension environment. 🔶 Regime Context 🔶 Price is trading well above 347.5 – HVL , keeping GOOGL inside a positive GEX regime — price action typically becomes more controlled than below HVL. As long as HVL holds on any pullback, the structural bias remains constructive. 🔶 Options Structure Context 🔶 👉 370 – C1 (highest call NETGEX wall) Confluence at 370: C1 — highest call NETGEX Ab1 — largest absolute gamma CV / nCV — strongest call volume flow today That makes 370 a clear reaction zone — not just a round number, but a stacked call GEX, absolute gamma, and live call-flow cluster sitting on prior resistance. If 370 clears with acceptance, price enters the positive GEX extension zone above the highest call wall — gamma squeeze potential opens toward the next call cluster if momentum holds inside the extension. If 370 rejects again, expect a pullback toward 347.5 – HVL first, with 350.2 – P2 as intermediate put-side structure between HVL and the call wall. 🔶 Downside Structure 🔶 👉 347.5 – HVL — regime pivot / first support below current price 👉 320 – P1 (highest put NETGEX wall) Confluence at 320: P1 — highest put NETGEX nPV / PV — put-side flow reference Together, 320 remains the structural floor — well below spot, but the anchor if the positive regime breaks. 🔶 Earnings / Positioning 🔶 With earnings scheduled for July 22 , implied volatility is already building into the event. The overlay shows an implied move ±7.16% (±26.63) — a wide expected range that fits the rising IV environment. The key pre-earnings question is whether GOOGL can break and hold above 370 before the event, or whether the call wall continues to cap upside into earnings week. 🔶 Options Sentiment 🔶 CALL$ 32% (51 DTE) means call options at an equivalent distance from spot are priced 32% higher than the corresponding puts — this is call pricing skew , reflecting upside demand in the option chain. The Options Oscillator shows IV trending higher into earnings, and the filled green call-skew histogram is building — call pricing skew is increasing, not fading. IVRank 76.9 IVx 41.7 (51 DTE) | IVx 5dCh +0.2% CALL$ 32% (51 DTE) — call pricing skew Implied move ±7.16% (±26.63) 🔶 Key Structure to Watch 🔶 370 — C1 + Ab1 + CV/nCV confluence; prior resistance; breakout trigger into extension zone 347.5 — HVL / regime pivot on pullback 320 — P1 / structural downside floor For now, GOOGL is testing its most important upside gate at 370 . The key question is simple: can price break above 370 and hold inside the positive GEX extension zone — or does the call wall reject again while IV keeps rising into July 22 earnings?

ORCL GEX - Bounce from HVL ORCL is trying to stabilize after bouncing from 135, the strongest put wall (P1). The important shift is that price is now back above 140 HVL, which puts the structure back into a positive GEX regime. The immediate upside test is 145, where the chart marks C1 and today’s strongest call volume. That makes 145 the first major reaction zone above spot. If ORCL can accept above 145, the next structural reference is 150 Ab1, the largest absolute gamma level. 🔶 Regime Context 🔶 Price is trading above 140 HVL, keeping ORCL inside a positive GEX regime. This does not remove resistance, but it changes the focus from put-wall defense to whether price can sustain above HVL and challenge the 145 call wall. 🔶 Options Structure Context 🔶 👉 135 - P1 - strongest put wall and recent bounce zone 👉 140 - HVL - regime pivot; price is above it now 👉 145 - C1 + CV - immediate call wall and strongest call volume today Confluence at 145: C1 - highest call NETGEX CV - strongest call volume today That makes 145 the first major upside reaction zone. 👉 150 - Ab1 - largest absolute gamma and next reaction level if 145 is accepted. 🔶 Options Sentiment 🔶 CALL$ 37% means call options at an equivalent distance from spot are priced about 37% higher than the corresponding puts - elevated call pricing skew. On the Options Oscillator, the green histogram has declined from its recent peak, so call pricing skew remains positive but looks like it is fading rather than aggressively building. 🔶 Key Structure to Watch 🔶 135 - P1 recent bounce support 140 - HVL; must stay above for the positive GEX regime 145 - C1 + CV immediate resistance 150 - Ab1 next reaction level For now, ORCL is a bounce-and-reclaim structure: P1 held, HVL reclaimed, and 145 is the next decision point. The key question is whether price can accept above 145 - or whether C1 rejects and sends ORCL back toward a 140 HVL retest.

BTCUSD GEX – Hovering at C1 Call Wall After P1 Bounce Bitcoin has defended the 60000 put wall twice in recent weeks, reclaimed 60990 HVL, and is now pressing the 63550 C1 call wall. Spot sits slightly above C1 while 65651 (50 SMA) and the next call cluster around 65k cap the immediate upside. 🔶 Regime Context 🔶 Price is trading above HVL at 60990, keeping BTCUSD inside a positive GEX regime — typically more controlled than below the gamma flip. The recovery from 60000 P1 confirms that put-dominated support held; the open question is whether call-side concentration at 63550 caps the move or gives way to extension. 🔶 Options Structure Context 🔶 👉 63550 – C1 (highest call NETGEX / call wall — current friction zone) 👉 65651 – 50 SMA — overhead trend reference aligned with the next call GEX cluster (~65k on the profile) 👉 60990 – HVL — regime pivot; must hold on any C1 rejection 🔶 Downside Structure 🔶 👉 60000 – P1 (strongest put wall — twice-bounced support) 👉 60990 – HVL — first line between positive and more reactive GEX if momentum fades 🔶 Options Sentiment 🔶 CALL$ 18.9% (45 DTE) means call options at an equivalent distance from spot are priced 18.9% higher than the corresponding puts — moderate call pricing skew, not extreme. IVRank 21.2 IVx 44.4 (45 DTE) | IVx 5dCh -3.6% CALL$ 18.9% (45 DTE) — call pricing skew Implied move ±1.56% (±1000) 🔶 Key Structure to Watch 🔶 63550 (C1) — accept vs reject; clearance opens positive extension zone and gamma squeeze potential toward the 65k call cluster / 50 SMA 60990 (HVL) — regime pivot on pullbacks 60000 (P1) — major put floor if structure fails For now, BTCUSD has repaired structure off 60000 P1 and is testing C1 at 63550 inside a positive GEX regime — but still below 65651 (50 SMA) and the 75415 (200 SMA) downtrend. The key question is whether price can accept above 63550 and build toward the 65k call zone — or whether C1 rejects back toward 60990 HVL and 60000 P1.

/GC – Recovery Above HVL, 4315 Call Wall in Focus Gold is showing early signs of stabilization on the daily chart after a sharp multi-month selloff. Price is now trading at 4175, holding above 4110 – HVL while the next major upside reference sits at 4315 – C1. This matters because HVL acts as the regime pivot — above it, gold remains inside a positive GEX environment, where price action tends to become more controlled than in reactive downside conditions. 🔶 Regime Context 🔶 Gold is trading above HVL at 4110, keeping the market inside a positive GEX regime. The immediate question is not whether structure has turned fully bullish, but whether price can maintain acceptance above HVL and begin rotating toward the overhead call wall. 🔶 Options Structure Context 🔶 👉 4315 – C1 — highest call NETGEX wall / main upside reference With spot at 4175, C1 sits roughly 140 points above current price — making it the clear upside magnet on the GEX profile if the recovery continues. 🔶 Downside Structure 🔶 👉 3935 – P1 — strongest put wall Confluence at 3935: P1 — highest negative NETGEX / strongest put wall Ab1 — largest absolute gamma nPOI — net put open interest peak POI — highest put open interest AbOI — highest absolute open interest That makes 3935 a major multi-confluence reaction zone — not just a round number, but a deep put-side positioning cluster that anchors the downside structure well below current price. 👉 4110 – HVL — regime pivot directly below spot; loss of this level would shift gold back toward a more reactive gamma environment 🔶 Options Sentiment 🔶 IVRank at 33.5 sits in a moderate range — options are neither cheap nor at an extreme. IVx has edged lower over the past five days (IVx 5dCh -1.4%), consistent with slightly compressing premiums after the recent decline. IVRank 33.5 IVx 25.6 | IVx 5dCh -1.4% Implied move ±0.6% (±25) 🔶 Key Structure to Watch 🔶 4110 — HVL / regime pivot (must hold) 4315 — C1 / highest call wall above spot 3935 — P1 + Ab1 + nPOI + POI + AbOI / main downside floor For now, gold is attempting a recovery above 4110 HVL, with 4315 C1 as the next major upside reference. The key question is whether momentum can carry price toward the 4315 call wall — or whether the recovery stalls and rolls back toward HVL.

SPX/ES - Bayesian Market thesis 📊 SPX / ES — Bayesian Market Thesis (Academic Summary) 🎯 Objective Frame current market conditions using a probabilistic research process, not directional prediction, with emphasis on regime identification and invalidation logic. 🧠 Research Methodology (High-Level Transparency) Our process integrates multiple, independent analytical domains into a single probabilistic view: Probabilistic inference We evaluate competing market regimes and assign likelihoods that update as new information emerges. Market structure analysis (Modern Wyckoff) Focus on acceptance vs rejection, testing behavior, and transitions between accumulation, markup, distribution, and markdown. Flow & derivatives context Options-related positioning and transaction flow are used to understand how positioning may shape price behavior, not to forecast direction. Classical technical structure Trend quality, range behavior, and relative location within recent value are used as structural constraints. These inputs are cross-validated. No single signal determines the thesis. 🧱 Current Structural Context (Wyckoff Lens) Price is operating near upper range boundaries Multiple high-area tests with reduced follow-through Structure consistent with late markup transitioning into distribution risk ➡️ Upside continuation is conditional, not assumed. 📐 Bayesian Scenario Assessment Probability-weighted view (dynamic): Regime Probability Characteristics 🔴 Distribution / Downside Rotation ~60–65% Failed acceptance, rotational volatility 🟢 Bullish Continuation ~35–40% Requires sustained acceptance above highs Probabilities adjust as price resolves uncertainty. 🚦 Invalidation Criteria (Bullish Reassessment) The current thesis is invalidated only by structural confirmation, not isolated price excursions. Required conditions: Sustained acceptance above range highs Higher high followed by a higher low holding above prior resistance Expansion in range and follow-through consistent with demand-led control Absent these, upside moves are treated as tests, not confirmations. 🧭 Interpretation Guidance This is a location- and regime-based assessment Elevated prices increase sensitivity to invalidation signals Risk management outweighs conviction in late-cycle structure 🧩 Closing Note This framework is designed to continuously update expectations, not predict outcomes. Markets resolve uncertainty first — direction follows.

HOOD – Breakout Above C2, 110 Call Wall in Focus HOOD is showing strong momentum on the daily chart, rallying sharply from the 70 area in April and now pressing into the 110 call wall after clearing 105 – C2 . Price has flipped C2 from resistance into support and is trading inside the positive gamma extension corridor between 105 and 110 , with the next structural test at the highest call NETGEX concentration on the board. 🔶 Regime Context 🔶 Price is trading well above HVL at 82 , keeping HOOD inside a positive GEX regime — price action typically becomes more controlled than below HVL. The positive GEX dot on the Options Oscillator confirms the broader gamma backdrop remains supportive as momentum carries price toward C1. 🔶 Options Structure Context 🔶 👉 110 – C1 + CV (highest call NETGEX wall) Confluence at 110: C1 — highest call NETGEX CV — strongest call volume flow today That makes 110 a clear reaction zone — not just a round number, but the densest call-side NETGEX and volume cluster overhead. 👉 120 – C3 + nCV — next extension reference above C1 if 110 clears If price accepts above 110 , HOOD enters deeper positive gamma extension — gamma squeeze potential opens toward 120 (C3 + nCV) if momentum holds. 👉 105 – C2 — cleared breakout support; must hold on any pullback 🔶 Downside Structure 🔶 👉 82 – HVL — regime pivot; loss of HVL would shift structure into a more reactive GEX environment 👉 75 – P2 — secondary put wall 👉 70 – P1 — strongest put NETGEX wall on the chart 👉 65 – P3 + nPV — lower put volume reference 🔶 Options Sentiment 🔶 CALL$ 72.8% (64 DTE) means call options at an equivalent distance from spot are priced 72.8% higher than the corresponding puts — this is call pricing skew , reflecting strong upside demand and elevated call premium relative to puts. The Options Oscillator filled green histogram is elevated and rising at the right edge — call pricing skew is building at high levels , consistent with aggressive upside positioning as price approaches the 110 call wall. IVRank 64.3 IVx 72.7 (64 DTE) | IVx 5dCh -2.1% CALL$ 72.8% (64 DTE) — call pricing skew Implied move ±2.17% (±2.3) 🔶 Key Structure to Watch 🔶 110 – C1 + CV multi-confluence call wall (immediate ceiling) 105 – C2 cleared support (must hold) 120 – C3 + nCV extension target if C1 breaks 82 – HVL regime pivot For now, HOOD is pressing the 110 call wall after a powerful breakout above 105 , inside a positive GEX regime with elevated call pricing skew. The key question is whether momentum can break and hold above 110 — triggering extension toward 120 — or whether C1 rejects and price retests 105 support.

AAPL GEX - Testing 300 Call Wall AAPL is consolidating on the daily chart after pulling back from the recent highs near 318 (nCOI zone), with price now sitting just below 300 — the highest call NETGEX wall on the board. The stock remains structurally bullish on the daily timeframe, holding well above the 50 SMA and 200 SMA , but the immediate battle is whether momentum can reclaim and accept above the 300 multi-confluence cluster — or whether C1 continues to cap the bounce. 🔶 Regime Context 🔶 Price is trading well above HVL at 277.5 , keeping AAPL inside a positive GEX regime — price action typically becomes more controlled than below HVL. The broader gamma backdrop remains supportive, even as price compresses between nearby put support and the major call wall overhead. 🔶 Options Structure Context 🔶 👉 300 – C1 (highest call NETGEX wall) Confluence at 300: C1 — highest call NETGEX Ab1 — largest absolute gamma COI — highest call open interest AbOI — largest absolute open interest nCV / CV — strongest call volume flow That makes 300 a clear reaction zone — not just a round number, but the densest call-side positioning cluster on the chart. 👉 310 – C2 — next call wall above if 300 clears 👉 318 – nCOI — overhead net call open interest reference from the recent peak zone If price accepts above 300 , AAPL enters the positive gamma extension zone — gamma squeeze potential opens toward 310 (C2) and the 318 nCOI area if momentum holds. 🔶 Downside Structure 🔶 👉 292.5 – P3 — immediate put support below spot 👉 277.5 – HVL — regime pivot; loss of HVL would shift structure into a more reactive GEX environment 👉 250 – P2 + POI — secondary put cluster 👉 240 – P1 + nPOI — strongest put NETGEX wall on the chart 🔶 Options Sentiment 🔶 CALL$ 13.1% (66 DTE) means call options at an equivalent distance from spot are priced 13.1% higher than the corresponding puts — this is call pricing skew , reflecting modest upside demand rather than extreme call premium. The Options Oscillator filled green histogram is rising from a recent low on the right edge — call pricing skew is building again after fading from prior peaks, consistent with renewed upside positioning interest as price approaches C1. IVRank 32 IVx 24.3 (66 DTE) | IVx 5dCh -2.6% CALL$ 13.1% (66 DTE) — call pricing skew Implied move ±1.12% (±3.3) 🔶 Key Structure to Watch 🔶 300 – C1 multi-confluence call wall (immediate pivot) 292.5 – P3 immediate support 310 – C2 next upside target if C1 clears 277.5 – HVL regime pivot For now, AAPL is pinned between P3 at 292.5 and the 300 call wall confluence , inside a positive GEX regime but below the heaviest call-side positioning. The key question is whether momentum can break and hold above 300 — triggering extension toward 310 — or whether C1 rejects again and price retests 292.5 support.

MSFT GEX - Sitting right on Put Wall MSFT is pressing into a familiar options level again. On the daily chart, price is currently trading around 403 , sitting directly on top of 400 – P1 , the strongest put NETGEX wall. This is now the third time price has tested this zone in the current structure — and historically, 400 has acted as both support and resistance , not a one-direction level. The immediate question is what happens right here , at the put wall. 🔶 Regime Context 🔶 Price is trading below HVL at 410 , keeping MSFT inside a negative GEX regime , where moves can become more reactive than above the gamma flip. Technically, spot is also below the 50 SMA (~411) and well below the 200 SMA (~455) , so the broader daily structure remains heavy even while 400 is being defended again. The first upside stabilization reference is not C1 yet — it is whether MSFT can reclaim and hold above 410 (HVL) . Until then, the structure stays in a more volatile, reactive environment. 🔶 Downside Structure 🔶 👉 400 – P1 — strongest put NETGEX wall / current battleground This is the level to watch now. A hold here keeps the third test alive as a potential base. A clean break below 400 would shift MSFT into the negative gamma extension zone , opening downside gamma squeeze potential toward the next put references. 👉 380 – P2 — next put wall below 👉 385 – P3 — secondary downside reference 🔶 Options Structure Context 🔶 The upside map is much higher from here: 👉 460 – C1 — primary call NETGEX wall 👉 500 – C2 — major call-side cluster Confluence at 500: C2 — second-largest call NETGEX wall COI — highest call open interest CV — strongest call volume today That makes 500 a significant upside positioning cluster — but it is far from current price. For now, the focus is not whether MSFT can reach 500, but whether 400 holds long enough for a rebound toward 410 (HVL) first. 🔶 Options Sentiment 🔶 CALL$ 21% means call options at an equivalent distance from spot are priced 21% higher than the corresponding puts — this is call pricing skew . The reading is present, but not extreme. The Options Oscillator green histogram is modestly elevated at the right edge, with call pricing skew stable rather than accelerating into the P1 test. IVRank 57.8 IVx 33.9 | IVx 5dCh +23.1% CALL$ 21% — call pricing skew Implied move ±1.82% (±7.34) 🔶 Key Structure to Watch 🔶 400 (P1) — third test / immediate decision level 410 (HVL) — regime pivot; reclaim needed for stabilization 500 (C2 + COI + CV) — major upside call cluster if momentum returns For now, MSFT is not in a clean trend-reversal setup yet — it is in a put-wall decision zone below HVL. The key question is whether 400 holds on this third test and allows a rebound toward 410 , or whether a break below P1 opens the negative extension path toward 390 (P2) .

Gamma Exposure Setup: SPY and VIX - 08 June 2026 1. AMEX:SPY is trading red in a negative gamma environment, while CBOE:VIX is trading green in a positive gamma regime, creating the expectation for a bearish 📉 move in CBOE:SPX 2. 🎯 Both reach important intraday boundaries: * 🔴 AMEX:SPY touches its maximum 0DTE level. * 🟢 CBOE:VIX touches its second-largest level and one of the day's lowest levels. 3. ⏱️ Both levels are hit simultaneously (blue vertical line), with SPY and VIX moving immediately in opposite directions ↔️. 4. 📉 Short CME_MINI:ES1! or CME_MINI:NQ1! at that moment. Keep it simple.

GOOGL GEX - Bounce from Put Wall GOOGL is showing a powerful bullish reversal on the daily chart. Price tested 360 – P1 , where the strongest put NETGEX wall aligns with nPV and PV — today’s heaviest put volume flow — in the same zone as an earlier gap-up fill and the 50 SMA at 360.90 . The result is a large green bullish candle that reclaimed 362.5 – HVL and closed above 370 – C1 at 371.95 . The 370 strike is not a thin call line alone: it stacks C1 (highest call NETGEX), Ab1 (largest absolute gamma), and CV / nCV (strongest call volume and net call volume). Clearing that cluster shifts focus toward 400 – C2 while positive GEX holds above HVL. 🔶 Regime Context 🔶 Price is trading above HVL at 362.5 , keeping GOOGL in a positive GEX regime . The sequence — defend P1/HVL, then accept above the 370 call cluster — is constructive: buyers absorbed put-side flow at 360 before challenging the densest call-side magnet on the board. 🔶 Options Structure Context 🔶 👉 370 – C1 (highest call NETGEX wall) Confluence at 370: C1 — highest call NETGEX Ab1 — largest absolute gamma CV — strongest call volume nCV — strongest net call volume That makes 370 a major reaction zone — not a round number. Today’s close above this stack opens the positive extension zone with gamma squeeze potential toward 400 – C2 if acceptance holds (retest 370 as support, not rejection). 👉 400 – C2 — next call NETGEX wall toward prior highs near 390–400. 🔶 Downside Structure 🔶 👉 360 – P1 (strongest put NETGEX support) Confluence at 360: P1 — highest put NETGEX PV — strongest put volume nPV — strongest net put volume Together, this points to protective put flow and put gamma concentrated at 360 — exactly where price bounced today, overlapping the gap-fill reference and the 50 SMA . 👉 362.5 – HVL — gamma flip between P1 and C1; reclaim was required before the C1 cluster break. 👉 345 – P2 — next put wall if 360 fails. 🔶 Options Sentiment 🔶 CALL$ 41.1% means calls at equivalent distance from spot are priced 41.1% higher than puts — firm call pricing skew into the bounce. The filled green call-skew histogram is turning higher off recent lows at the right edge after the P1 test — skew rebuilding with the rally (histogram body only, not the vertical NETGEX bars). IVRank 37.2 IVx 33.8 CALL$ 41.1% — call pricing skew 🔶 Key Structure to Watch 🔶 370 – C1 + Ab1 + CV + nCV — breakout support; loss reopens HVL and the 360 put cluster 362.5 – HVL — regime pivot 360 – P1 + PV + nPV — put wall + put-flow floor 400 – C2 — upside target in extension if 370 holds For now, GOOGL bounced from a put-flow-heavy P1 into a call-flow + gamma-heavy C1 break, above 50/200 SMA and inside positive GEX . The key question is whether 370 holds on retest as support after clearing C1 + Ab1 + CV + nCV — and whether gamma squeeze potential can reach 400 – C2 , or the cluster stalls price again.

AMZN – Triple Bottom at HVL AMZN is consolidating after a sharp pullback from the May highs, and price is now sitting on 257.5 – HVL — the gamma flip / regime pivot. Over the past month, the stock has tested this zone three times , forming a clear triple bottom at the HVL level. Each dip found support near 255 – P1 and bounced — a technical pattern that aligns with the strongest put wall and the GEX regime boundary below spot. With price holding above 257.5 – HVL , AMZN remains inside a positive GEX regime — but the setup is fragile until the triple bottom holds on a closing basis. 🔶 Regime Context 🔶 257.5 – HVL is the regime pivot — the level where net gamma flips. Price is currently resting directly on this line after three successful tests, keeping AMZN structurally above negative gamma territory. A clean loss of HVL would shift the stock back into a more reactive GEX environment, with 255 – P1 as the first major put wall below. 🔶 Options Structure Context 🔶 👉 275 – C1 — highest call NETGEX wall; primary upside target if the HVL base holds 👉 257.5 – HVL — regime pivot / triple bottom support zone If 275 – C1 is cleared with acceptance, price would enter the positive gamma extension zone — opening gamma squeeze potential toward the next call wall above. 🔶 Downside Structure 🔶 👉 255 – P1 — strongest put wall; floor of the triple bottom pattern 👉 257.5 – HVL — must hold to keep the positive GEX regime intact The 200 SMA is trending upward just below this zone, adding moving-average confluence to the 255–257.5 support cluster. 🔶 Options Sentiment 🔶 CALL$ 38.9% means call options at an equivalent distance from spot are priced 38.9% higher than the corresponding puts — this is call pricing skew , reflecting moderate upside demand despite the recent pullback. On the Options Oscillator, the green histogram is building at the right edge — call pricing skew is increasing as price stabilizes at HVL. IVRank 24.2 IVx 34.9 CALL$ 38.9% — call pricing skew Implied move ±1.79% (±4.6) 🔶 Key Structure to Watch 🔶 275 – C1 — primary call wall / recovery target 257.5 – HVL — regime pivot; triple bottom support 255 – P1 — put wall floor; loss opens deeper downside For now, AMZN is sitting on HVL after a triple bottom — the key question is whether this base holds and momentum can rebuild toward 275 – C1 . The key question is simple: can price hold 257.5 – HVL on a closing basis — or does the triple bottom fail and price retest 255 – P1 ?

AVGO GEX - Breakout Above C1 AVGO is showing a strong daily momentum breakout, clearing 450 – C1 after weeks of consolidation inside a broadening wedge structure. Price has now moved above C1 and is trading inside the positive gamma extension zone — the region between C1 and C2 where gamma squeeze potential opens toward the next major call wall if acceptance holds. Price is holding well above both the 50 SMA and 200 SMA , with the moving averages in a bullish fan — momentum is aligned with the structural breakout. 🔶 Regime Context 🔶 With C1 now cleared and spot holding above the highest call NETGEX wall, AVGO has entered the call gamma extension zone between 450 and 500 . This is the structural environment where upside momentum can carry price toward C2 — but only if 450 holds as support on any pullback. 🔶 Options Structure Context 🔶 👉 500 – C2 — next major call wall / extension target 👉 450 – C1 — breakout level; must hold for extension to remain valid 🔶 Downside Structure 🔶 👉 380 – P1 — strongest put wall below; first major support if the extension zone fails 👉 345 – P2 — secondary put support 👉 305 – P3 — deeper put reference 🔶 Options Sentiment 🔶 CALL$ 68.3% (46 DTE) means call options at an equivalent distance from spot are priced 68.3% higher than the corresponding puts — this is call pricing skew , reflecting strong upside demand in the options market. On the Options Oscillator, the green histogram is building at the right edge — call pricing skew is increasing alongside the C1 breakout. IVRank 70 IVx 68.7 (46 DTE) CALL$ 68.3% (46 DTE) — call pricing skew Implied move +1.97% (~9.1) 🔶 Key Structure to Watch 🔶 500 – C2 — extension target inside the call gamma zone 450 – C1 — breakout support; loss here would invalidate the extension setup 380 – P1 — major downside reference if momentum fades For now, AVGO is structurally bullish above C1 , trading inside the call gamma extension zone with gamma squeeze potential toward 500 . The key question is whether momentum can carry price toward the 500 call wall — and whether 450 holds on any pullback inside the extension zone.

PLTR GEX - Triple Bottom Bounce PLTR is bouncing sharply from a triple bottom base after three separate tests of 130 – P1 — the strongest put NETGEX wall on the chart. Price has reclaimed 135 – HVL and is now pressing 145 – C1 , the highest call NETGEX wall overhead. 🔶 Regime Context 🔶 Price is trading above 135 – HVL , keeping PLTR in a positive GEX regime — typically more controlled price action than below the gamma flip. The triple-bottom defense at 130 (P1) built the base — but the regime shift came with acceptance above 135 (HVL) , not merely holding P1. 🔶 Options Structure Context 🔶 👉 145 – C1 — highest call NETGEX wall; immediate decision level above spot 👉 150 – C2 — next call wall / extension reference if 145 is accepted 👉 130 – P1 — triple-bottom floor / strongest put wall below The bounce is constructive while 130 (P1) holds and price stays above 135 (HVL) . A clean acceptance above 145 (C1) would open the positive gamma extension zone — gamma squeeze potential toward 150 (C2) . 🔶 Downside Structure 🔶 👉 135 – HVL — regime pivot; loss here shifts structure back toward transition 👉 130 – P1 — triple-bottom support; failure below HVL opens retest toward 120 (P2) 🔶 Options Sentiment 🔶 CALL$ 44.8% means call options at an equivalent distance from spot are priced 44.8% higher than the corresponding puts — this is call pricing skew , with calls modestly premium-rich at current levels. On the Options Oscillator, the filled green histogram is flat at the right edge — call pricing skew is stable , not building with the bounce. Mid-term expiries show positive skew , while near-term skew remains negative. IVRank 17.2 IVx 51.2 CALL$ 44.8% — call pricing skew Implied move ±2.11% 🔶 Key Structure to Watch 🔶 145 (C1) — primary call wall; breakout vs. rejection 135 (HVL) — regime pivot; must hold for positive GEX 130 (P1) — triple-bottom / put wall floor 150 (C2) — extension target if 145 clears For now, PLTR has bounced off a triple bottom at 130 (P1) , reclaimed 135 (HVL) , and is pressing 145 (C1) in a positive GEX regime — with gamma squeeze potential only if C1 is accepted. The key question is whether momentum can break and hold above 145 (C1) — or whether the move stalls and pulls price back toward 135 (HVL) / 130 (P1) .

NVDA – Pullback Holding Above P1/HVL NVDA is pulling back after a sharp rally that peaked near 236 in late May. On the daily chart, price has retraced from those highs but remains above P1 and the High Volatility Level around 207.5 . That keeps the stock inside a positive GEX regime for now — as long as this zone holds, price action tends to stay more controlled than in a negative gamma environment below HVL. This matters because the current move is not a breakdown yet — it is a retracement within a broader uptrend , with price still holding well above the 50 SMA (~198) and 200 SMA (~187) . 🔶 Regime Context 🔶 Price is currently testing the 207.5 P1 / HVL zone — the immediate regime pivot after the rally. A clean loss of 207.5 would open the path toward the 200 confluence cluster below. 🔶 Options Structure Context 🔶 👉 220 – C1 (highest call NETGEX wall) Confluence at 220: C1 — highest call NETGEX Ab1 — largest absolute gamma CV / nCV — strongest call volume flow today That makes 220 a clear reaction zone for any recovery attempt — not just a round number. Above that, structure extends toward 224 (C3) and 232 (C2) . 🔶 Downside Structure 🔶 👉 207.5 – P1 / HVL — immediate regime pivot (currently being tested) 👉 200 – POI + COI + AbOI + nPV + PV Confluence at 200: COI — highest call open interest POI — highest put open interest AbOI — highest absolute open interest nPV / PV — strongest put volume Together, this points to protective put positioning at 200 — a major dual-OI and put-flow cluster below spot. 👉 195 – P2 — next put wall below the 200 zone 🔶 Options Sentiment 🔶 CALL$ at 27.6% (51 DTE) means call options at an equivalent distance from spot are priced 27.6% higher than the corresponding puts — this is call pricing skew , showing moderate call-side demand in the options market. On the Options Oscillator , the green histogram has declined from a recent peak — call pricing skew is fading from its highs , even though it remains positive. IVRank 29.7 IVx 42.6 (51 DTE) | IVx 5dCh +0.3% CALL$ 27.6% (51 DTE) — call pricing skew Implied move ±0.25% (±0.5) IVR 28.6 | IVx avg 42.4 | positive GEX dot 🔶 Key Structure to Watch 🔶 207.5 (P1 / HVL) — regime pivot / hold or break 220 (C1 + Ab1 + CV) — primary call wall / recovery ceiling 200 (COI + POI + AbOI + PV) — major support / protective put cluster 236 — recent swing high / pullback origin 195 (P2) — put support below 200 For now, NVDA is in a post-rally pullback, still holding above P1/HVL inside positive gamma, with call skew fading but still positive. The key question is whether price stabilizes above 207.5 and retests the 220 call wall confluence — or whether the pullback extends into the 200 dual-OI cluster .

QCOM – Bounce from HVL, Watching 220 Call Wall Confluence QCOM is showing a constructive bounce from a key options-driven regime level. On the daily chart, price recently reacted from the 197.5 High Volatility Level (HVL) and is now continuing within an upward trend structure after a healthy pullback. This matters because HVL often acts as a key regime pivot. As long as price holds above this zone, QCOM remains in a more constructive gamma environment, where volatility can become more controlled compared to reactive downside conditions. 🔶 Options Structure Context 🔶 The next major upside level to watch is: 👉 220 – highest call wall This level is especially important because it has multiple layers of confluence: - highest call GEX level - highest call open interest - highest call volume - confluence zone on the chart That makes 220 a clear reaction zone, not just a random resistance level. 🔶 Downside Structure 🔶 The main downside reference is: 👉 190 – P1 / strongest put wall This level sits below HVL and becomes much more important if price loses the 197.5 HVL level. 🔶 Key Structure to Watch 🔶 197.5 (HVL) – regime pivot / recent bounce zone 220 – major call wall and confluence target 190 – strongest put wall below HVL Uptrend structure – still intact after pullback For now, QCOM remains in an upward trend after bouncing from HVL. The key question is whether momentum can carry price toward the 220 call wall, and more importantly, how the market reacts once it gets there.

Gamma Exposure Pattern: 0DTE NDX+VIX This example is from May 14, 2026. My setup is based on Gamma Exposure (GEX): 1. Left Chart Ticker: Nasdaq 100 Index ( NASDAQ:NDX ) Gamma Exposure: 0DTE (expiration: May 14, 2026) Time Trigger: Regular Trading Hours (RTH) opening Target: The largest 0DTE GEX level at 29,660, which tends to act as a magnet price level. 2. Right Chart Ticker: Volatility Index ( CBOE:VIX ) Gamma Exposure: Nearest expiration (May 19, 2026) Pattern: A false breakout in CBOE:VIX above the largest GEX level (18), while at the same time NASDAQ:NDX begins moving toward its intraday target. I see this pattern occur very frequently. I focus on identifying the largest 0DTE GEX level in a major asset such as CBOE:SPX , AMEX:SPY , NASDAQ:NDX , or NASDAQ:QQQ , and then look for confirmation from the opposite move in TVC:VIX . As Linda Raschke said: “All you need is one pattern to make a living.”

SPX – Bullish Rally Above HVL, 7500 Call Wall in Focus 🔶 SPX – Bullish Rally Above HVL, 7500 Call Wall in Focus 🔶 SPX is currently trading in a very strong bullish rally, with price moving firmly above the High Volatility Level (HVL). For the May 15 expiration, HVL is now sitting far below current price, around the 7300 area, which means SPX remains well inside a positive GEX regime. In this type of environment, price action often becomes more controlled, and upside momentum can continue as long as the structure remains supportive. 🔶 Current Options Structure 🔶 The main upside level now in focus is: 👉 7500 – highest call wall Price is already getting close to this level, making it the next major options-driven reference point. 🔶 Speculative Call Flow 🔶 What really stands out today is the 7600 strike. According to the indicator, 7600 currently shows the highest call volume of the day. That is especially interesting because the May 15 options chain expires in just two days. In other words, this looks like highly speculative short-dated upside call flow. That does not mean SPX has to trade to 7600, but it clearly shows that aggressive upside positioning is building into expiration. 🔶 Key Structure to Watch 🔶 7300 area – HVL / regime pivot 7500 – highest call wall / nearest major upside reference 7600 – speculative call volume cluster May 15 expiration – short-dated positioning window For now, SPX remains in a strong positive gamma environment, with the market pressing toward the 7500 call wall. The key question is whether momentum can carry through that level — or whether the call wall starts acting as a short-term magnet and resistance zone.

SPX GEX - Speculative Call Volume 🔶 SPX – Positive GEX Above HVL, 7300 Call Cluster in Focus 🔶 SPX is currently trading in a clearly constructive options structure on the hourly chart. Based on the Friday GEX profile, price is sitting above the High Volatility Level (HVL), which is currently around 7195. That keeps SPX inside a positive GEX regime, where price action typically becomes more controlled and volatility tends to compress compared to negative gamma conditions. 🔶 Current Options Structure 🔶 For the May 8 expiration, the main levels are clearly defined: 7195 – HVL / regime pivot 7150 – nearest protective put area / strongest put wall 7300 – nearest gamma cluster and strongest call wall 7350 – highest call open interest The next important upside reference is the 7300 call wall, which currently acts as the closest major call-side positioning level above spot. 🔶 Interesting Flow Signal 🔶 The most interesting part of the profile is the 7425 strike. That level is far out-of-the-money for a short-dated Friday expiration, yet it is showing the largest call volume on the board. With SPX trading around 7260, this looks like a highly speculative upside call flow. This does not mean price has to move there, but it clearly shows where some traders are placing aggressive upside bets into the end of the week. 🔶 Macro Catalyst 🔶 One important caveat: NFP is due on Friday. Non-farm payrolls can easily reset short-term positioning, volatility, and dealer hedging behavior, so the structure should be monitored dynamically. 🔶 Key Structure to Watch 🔶 Above 7195 HVL → positive GEX regime remains active 7300 → nearest call wall / upside reference 7350 → highest call OI 7425 → speculative call volume cluster 7150 → nearest protective put wall As long as SPX holds above HVL, the structure remains supportive. The main question is whether price can continue rotating toward the 7300 call cluster, or whether the upcoming NFP event disrupts the positive gamma setup.

AAPL GEX - Positioning before earnings Apple reports after the close today, and the options structure is getting interesting. For tomorrow’s expiration, the main level on the TanukiTrade GEX profile is very clear: AAPL 275 is the key call-side cluster. This is not just the primary call wall. It is also a major multi-confluence level, with several secondary metrics stacking in the same area: highest positive GEX, highest absolute gamma concentration, strongest call open interest, highest absolute open interest, strongest call volume today, and the strongest positive delta exposure. In other words, a lot of the pre-earnings options activity is currently concentrating around the 275 strike. What also stands out is that the structure extends from around 275 to 280, with C2 and C3 sitting just above it. So rather than one isolated strike, this looks more like a call-side gamma cluster above current price. Spot is also trading well above the HVL, which means Apple is currently positioned in the upper part of the structure, not near the lower volatility pivot. On the downside, the first major protective put level is much lower, around 250, where P1 is currently showing up. The detailed volume profile is telling a similar story: today’s flow is heavily tilted toward the call side ahead of earnings. That does not mean it has to resolve higher — earnings can obviously reset the entire structure overnight — but it does show where traders are currently focusing their speculative positioning. Looking at the Options Oscillator, it shows no clear pricing skew in any direction based on options pricing for May 1 expiration.

SPX: New All-Time High — With a Little Help from GEX Did you see it coming? If you feel nervous during every trading session—constantly second-guessing your decisions—you’re not alone. But instead of wasting time and money, consider focusing on what truly matters: Gamma Exposure. Take a look at the chart. No annotations, no moving averages, no trend lines—just Historical Gamma Exposure levels. It’s as if we’ve laid all the cards on the table. The first thing to notice is the classic V-shaped rebound. But why did it happen? Honestly, we don’t know—and more importantly, we don’t need to. What matters is what happened, not why. And what happened was a complete shift in Gamma Exposure following the end of Q1 2026. Throughout most of February and March, the SPX traded almost entirely within a negative gamma environment (red bars). However, starting April 1, both 0DTE(thin lines) and All Expirations (thick lines) GEX levels flipped from red to green. In other words, the SPX transitioned from a negative to a positive gamma regime. Looking more closely, you’ll notice that the red bars gradually shrink—and in some cases disappear entirely—while new green levels emerge. From a Position Analysis perspective, this signals that market makers have shifted into a positive gamma stance. To conclude, I’ll share one final SPX chart focused solely on 0DTE Gamma Exposure levels. The image speaks for itself. To me, it reflects Jesse Livermore’s “path of least resistance”—redefined for today’s digital, options-driven market.

ORCL GEX – Approaching Highest Call Wall ORCL just delivered a strong, news-driven move higher, bouncing from a well-established support zone. Price reacted sharply from the 140 put wall, which has now held multiple times and acts as a strong structural base. From there, momentum pushed the stock quickly higher into a key options level. That level is: 👉 170 – C1 (largest call GEX) + highest absolute GEX This is not just a resistance it’s the dominant positioning level in the current structure. Price has already reacted from this zone, confirming its importance. 🔶 Regime Context 🔶 Price is trading well above HVL, placing the market in a positive gamma environment In this regime, moves tend to be more controlled, but key levels still act as decision points 🔶 What Happens Next? 🔶 The key question is simple: 👉 Can price break above 170? If that level gets cleared and accepted, the structure opens into a call gamma extension zone, where price can move more freely. 🔶 Next Major Level 🔶 200 – highest call OI + highest absolute OI This is the next major upside reference if extension begins. For now, ORCL is sitting right at a major inflection point: 👉 Acceptance above C1 → potential continuation 👉 Rejection → controlled pullback within positive gamma

NVDA Earnings & GEX - 99% PoP Strategy With Full Management Plan 🔶 NVDA Earnings Structure – Risk-Managed Omni-Directional Approach This material is for educational purposes only; TanukiTrade is not a financial advisor, we only an Expert Options Trader Hub and nothing here constitutes investment advice or a recommendation. NVDA reports earnings tonight. The VIX clearly shows that volatility is being held elevated — it has been rising over the past 1–2 weeks. Let’s look at how you can reduce risk as much as possible if you want to trade the earnings report with an omni-directional multi-leg structure. 🔶 Market Structure – Using GEX Profile & Options Oscillator The implied move priced by the market is ±5.52% Base IV and put skew have been rising for weeks Call skew has been fading This suggests that instead of the previous strong upside optimism, participants have started hedging NVDA downside risk. The two yellow arrows reflect this shift. 🔶 What Is Currently Priced In? (Objective GEX View) Using the usual GEX profile cheat sheet ( see at bottom ): 🔵 Positive Gamma Profile (we are here now) 🟢 Positive Squeeze Zone in case of FOMO 🔴 HVL → acceleration of downside below this level 🔵 Already priced-in selloff range – Transition Zone Currently we are still in positive GEX territory, but before a binary event this guarantees nothing. Below 187 (HVL), downside can accelerate rapidly. The turquoise transition zone (170–190) suggests that a moderate correction is already priced in. The market is unlikely to collapse within this range — at most a structured pullback toward put support. Mixed call- and put-dominated GEX levels exist down to 170. Above the 200 EMA, minor pullbacks structurally do not change much. 🔶 What About a Very Negative Surprise? 🔴 Below 170 → Armageddon Surprise Zone Below put support at 170: 165 minor level 150 previous high / demand zone 140 negative gamma squeeze zone A true structural shock would require price trading below 170. Only then do we enter territory where the next strong demand cluster sits significantly lower. 🔶 4️⃣ How to Use the 140+ Region Effectively There is no such thing as “risk-free” in options. However, assume NVDA is currently 195$ and you would gladly buy at 140$. In that case, downside naked short put component trades may come into play. These structures: Have no upside risk (credit-based) Can benefit from IV collapse after earnings Offer multiple adjustment paths A PUT ladder structure is one example idea. 🔶 Why This Structure? 93–99% Probability of Profit Lower breakeven ~ -27% from current price ~5× further than the implied move Fully credit-based upside 79 days provide ample time to manage assignment risk 🔶 Scenario Management 🟢 If NVDA moves higher after earnings: You lose nothing You collect 40–50$ from IV collapse The 150 short put can be rolled up toward 170 Structure can evolve into a put ratio with additional credit 🔴 If NVDA moves lower after earnings: The structure can open quickly over a few days, but: Breakeven remains protected by prior 150 structure 140 acts as strong demand / negative gamma zone 🔴Management options: Let time decay work; buy cheaper protective put near breakeven Accept cash-secured assignment below 140 and transition into Covered Calls Roll down 170/180 put credit spread Open a credit call vertical to balance delta 🔶 Final Thought We do not enter earnings hoping for a miracle. We enter with a complete management plan. The GEX profile does not predict direction — it provides structural context. And before a binary event, structure is everything: --------------------------------- 🔶 Appendix - GEX Profile CHEATSHEET for Tradingview