The Daily GEX Read
QQQ dealer positioning, mapped before the bell. Every trading morning.
Most 0DTE traders open the chart and start looking for a setup. That’s backwards. Before you look for a trade, you need to know what kind of day it is — because the same pattern that prints money in one regime bleeds you out in the other.
Gamma exposure tells you which one you’re in. Dealers who are long gamma hedge against movement: they sell rallies and buy dips, and the tape compresses. Dealers who are short gamma hedge with the move: they sell weakness and buy strength, and the tape runs. Same index, same chart, completely different rules of engagement.
The Daily GEX Read publishes that map every trading morning, before the open. Free.
What’s In Every Read
The Regime
Where price sits relative to the gamma flip point, and what that means for how the tape is likely to behave. Positive gamma means fade the edges. Negative gamma means respect the trend and cut the fades.
The Levels
Gamma flip, call wall, put wall — with the distance from spot in both points and percent, so you know immediately whether a level is reachable today or decoration. Plus the volatility backdrop: implied versus realized, IV rank, IV percentile.
The Read
The directional lean, stated plainly, along with the reasoning behind it — and a hard invalidation line. Not a vague “watch this area.” A specific level that, if it prints, means the thesis is dead and you stand down.
Scenarios
Playbooks for the base case and both breakout directions, written before the open so you’re not improvising when the tape moves. Deciding what to do while a position is running is how accounts get hurt.
On the Calendar
The scheduled event risk that can override every level above, with an honest assessment of whether it actually matters or is just noise on the wire.
Get It Before the Bell
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Recent Reads
- QQQ 0DTE GEX Read — September 10, 2026UPDATED 1:15 p.m. ET — the 703 put wall never traded. QQQ broke 707.25, ran to 706.50 and reversed; during cash the book more than doubled to $2.9B and 227,301 contracts, the put wall migrated seven points up to 710, net gamma went from −$20.9M to −$1.3B, and the 30-year auction stopped through by 2.7bp with primary dealers taking just 2.21%. The line is 710 now, and price is pinned to it.
- QQQ 0DTE GEX Read — September 9, 2026QQQ is 714.99 after an overnight break of 717.90 zero gamma that ran to 713.50, and it is now resting on a 714 put wall that is also the strong magnet, with net gamma at −$950.9M and zero gamma reset overhead to 718.03. The book doubled to $2.8B and rebuilt almost entirely on the put side — 179,512 put contracts against 84,787 calls — with Brent through $100, PPI Thursday and CPI Friday.
- QQQ 0DTE GEX Read — September 8, 2026QQQ is 721.08 and sitting exactly on a call wall that reset four points lower to 721, while net gamma flipped negative to −$60.9M and the book collapsed 78% from Friday’s $6.5B to $1.4B. Zero gamma is 717.90, the magnet is 710, and semis are carrying the index while AAPL, MSFT and AMZN are all offered.
- QQQ 0DTE GEX Read — September 4, 2026QQQ ran to 722.06 overnight and gave it back on a 162k payroll print against a 55k forecast. Spot 717.50 sits 83 cents above zero gamma with the value-area low, premarket low and put wall stacked in between, the book doubled to $6.5B, and Monday is closed for Labor Day.
- QQQ 0DTE GEX Read — September 3, 2026Iran struck Kuwait, Jordan and Bahrain, crude is near $90, and the 10-year hit its highest since November 2023. ADP printed 38k. The book cleared to $1.0B and the magnet sits at 710, above spot.
- QQQ 0DTE GEX Read — September 2, 2026Iran struck Kuwait, Jordan and Bahrain, crude is near $90, and the 10-year hit its highest since November 2023. ADP printed 38k. The book cleared to $1.0B and the magnet sits at 710, above spot.
- QQQ 0DTE GEX Read — September 1, 2026Zero gamma flipped to resistance nine points overhead at 716.72, the put wall at 715 broke overnight, and the book has thinned to $1.2B. Five references gone with no shelf at any of them, into ISM at 10:00.
- QQQ 0DTE GEX Read — August 31, 2026Zero gamma flips to resistance at 714.44 with spot sitting right underneath, the expiry book collapsed to $2.1B, and the put wall is 24 points away at 690. Add an Iran response headline and this is a thin, headline-driven tape.
- QQQ 0DTE GEX Read — August 28, 2026A Fed governor just called for rate hikes and Warsh speaks at Jackson Hole at 10:00 ET. QQQ sits on the 718 put wall with the book tripled to $6.2B and the magnet moved up to 730. The 718 line decides everything.
- QQQ 0DTE GEX Read — August 27, 2026NVDA delivered and the gamma regime flipped hard. Net GEX +$1.1B, ratio 2.51, and QQQ gaps into a $718 call-wall magnet with zero gamma now support at 713.20. Dampened tape — fade the edges until something breaks.
- QQQ 0DTE GEX Read — August 26, 2026Hot PCE hits the tape and NVDA reports tonight. QQQ gaps onto the 707 put wall — which is also a strong magnet and vol trigger — with net GEX -$184.8M and zero gamma overhead at 710.36. Positioning day. Here’s the map.
- QQQ 0DTE GEX Read — August 25, 2026QQQ opens balanced on zero gamma with dealers short. Net GEX -$253.3M, call wall 716, put wall 705. Break, don’t fade.
- QQQ 0DTE GEX Read — August 24, 2026Net GEX is negative, price is under a bearish cloud, and the put wall at 705 is pulling. Levels, triggers, and the opening plan for Monday.
- QQQ 0DTE GEX Read — August 21, 2026QQQ gaps into zero gamma at 716.32 with net GEX at -$620.9M. Semis lead, mega-cap lags, and Flash PMI hits 15 minutes after the bell. Full level map and opening plan.
- QQQ 0DTE GEX Read — August 20, 2026Day two of negative gamma. Net GEX -$1.0B, ΔGEX -$2.1B. Spot is sitting directly on the 711 put wall, which is also a STRONG magnet and a STRONG vol trigger. Hot Philly Fed at 47.4 pushed rates and dumped growth. 711 decides the day.
New to Gamma Exposure?
If the terms above are unfamiliar, start with the fundamentals — the read will be far more useful once you understand what’s actually driving these levels.
- Start Here — the full 0DTE Hunter training path, in order
- The Pre-Trade Checklist — run this before every entry
Levels are derived from aggregate options open interest at the prior close and shift as positioning changes intraday. They’re a map, not a guarantee. Everything published here is educational only and is not investment advice — see the Disclaimer.
Hunt the Day. Own the Trade.
0DTE Hunter 