Key $SPX levels I'm watching today:
Upside: 6050 resistance — clean break here opens 6080-6100
Support: 5980 holding structure — lose this and we test 5950
Gamma flip around 6020. Dealers long gamma above, short below — expect chop in the 5980-6050 range unless we get volume.
If we reclaim 6050 with conviction, I'm looking at 0DTE calls into close. Below 5980, I'd rather wait for 5950 to add puts.
Flow's been mixed — seeing call buying at highs but put walls building at 6000. Not clean directional yet.
Upside: 6050 resistance — clean break here opens 6080-6100
Support: 5980 holding structure — lose this and we test 5950
Gamma flip around 6020. Dealers long gamma above, short below — expect chop in the 5980-6050 range unless we get volume.
If we reclaim 6050 with conviction, I'm looking at 0DTE calls into close. Below 5980, I'd rather wait for 5950 to add puts.
Flow's been mixed — seeing call buying at highs but put walls building at 6000. Not clean directional yet.
