SPY opened at $769.86, up 0.31%. The structure repaired overnight — the flip dropped back below price after yesterday's inversion.
The overnight shift:
• Flip collapsed from $773.71 to $755.99
• Cushion flipped from -$5.60 to +$13.87
• Total GEX improved $682M, from -$1.09B to -$408M
• Engine evaporated from -94.6M to -2.7M (essentially zero)
• Call premium surged from 46.9% to 66.2%
The most dramatic overnight repair since the July 28 FOMC recovery. The put dominance lasted exactly one session. Money rotated back into calls 2:1.
The mechanical selling pressure vanished. Dealers went from active sellers to neutral. The amplification regime is still negative but half as deep as yesterday afternoon.
Magnets above: $775 at +$179M (0.7%), $780 at +$153M (1.3%). Both still positive and pulling.
The pattern this week: every afternoon session breaks the structure, every overnight session repairs it. The put wave hits in the afternoon, the repositioning fixes it by morning.
Flip is $756. Price is $769.86. Magnet is $775. Target is $789. NVDA earnings in 7 days.
The pre-NVDA window continues. The overnight repairs continue. Seven sessions left.
$SPY $QQQ $NVDA
The overnight shift:
• Flip collapsed from $773.71 to $755.99
• Cushion flipped from -$5.60 to +$13.87
• Total GEX improved $682M, from -$1.09B to -$408M
• Engine evaporated from -94.6M to -2.7M (essentially zero)
• Call premium surged from 46.9% to 66.2%
The most dramatic overnight repair since the July 28 FOMC recovery. The put dominance lasted exactly one session. Money rotated back into calls 2:1.
The mechanical selling pressure vanished. Dealers went from active sellers to neutral. The amplification regime is still negative but half as deep as yesterday afternoon.
Magnets above: $775 at +$179M (0.7%), $780 at +$153M (1.3%). Both still positive and pulling.
The pattern this week: every afternoon session breaks the structure, every overnight session repairs it. The put wave hits in the afternoon, the repositioning fixes it by morning.
Flip is $756. Price is $769.86. Magnet is $775. Target is $789. NVDA earnings in 7 days.
The pre-NVDA window continues. The overnight repairs continue. Seven sessions left.
$SPY $QQQ $NVDA