TLDR;
This YouTube video from Tactical Data Desk provides a market analysis for St. Patrick's Day, focusing on gamma exposure (GEX) and potential trading strategies. It covers key levels for NDX, SPX, IWM, Nvidia, QQQ, SPY, and Tesla, using zero-day to expiration (0DTE) data and GEX dashboards to identify call and put walls. The presenter also discusses real-time options flow for the S&P 500, offering insights into potential market movements and trading opportunities.
- Key levels for major indices and stocks are identified using GEX data.
- Real-time options flow analysis is used to understand market sentiment.
- Trading strategies are suggested based on potential gamma squeezes and support/resistance levels.
Intro & St. Paddy's Day Greeting [0:00]
Jason from Tactical Data Desk greets viewers on St. Patrick's Day and introduces the day's market analysis. He encourages viewers to share their plans in the comments and reminds them to like and subscribe for free GEX exposure and gamma levels updates. He mentions plans to live stream once a subscriber threshold is met.
NDX GEX Levels & 0DTE Outlook [0:45]
The presenter reviews the Nasdaq 100 (NDX) zero-day to expiration (0DTE) data, noting that the data is based on the previous day's market close. The NDX 0DTE call wall is at 24420 and the put wall is at 24200. For the 1-5 day to expiration, the call wall is at 2575 and the put wall is at 2400. The monthly OPEX, which is on Friday, has a call wall at 2575 and a put wall at 2400. The put-to-call open interest on 0DTE fell below one, suggesting potential bullish sentiment. The net GEX is negative, while net VEX and VNA are positive.
SPX Analysis & Dealer Positioning [1:55]
The analysis shifts to the S&P 500 (SPX), where the call wall is at 6660 and the put wall is at 6600, with a put-to-call open interest of 1.6, which is considered high. The net GEX is negative at 1.2 billion. For the monthly OPEX on Friday, the call wall is at 6910 and the put wall is at 6500, which is 100 points below the 0DTE put wall, indicating potential volatility and downside risk. The presenter also provides call and put wall levels for IWM, Nvidia, QQQ, SPY and Tesla, along with their respective put to call open interest ratios, highlighting potential bullish or bearish sentiment based on these values.
GEX Dashboard Deep Dive [4:05]
The presenter examines the GEX dashboard, noting that the SPX 0DTE put wall has moved up to 6650 and the call wall to 6760 since the previous day's market close, likely influenced by the rise in ES futures. The positive gamma exposure is noted at 6715, with further positive gamma above 6725 and resistance up to 6750, just below the call wall at 6760. A break above 6750 could face resistance at 6760. The put wall at 6650 shows negative gamma exposure, with a minor put wall at 6680. Holding at 6680 after a retracement could signal a move back up, while breaking below it could lead to a move down to 6650. NDX call and put walls are at 24700 and 24710 respectively, but may not be fully updated.
SPX Real-Time Options Flow Engine [9:11]
The presenter discusses a real-time options flow engine tracking S&P 500 options. While some brokerages allow trading S&P options before the market opens, it can be challenging for retail traders due to wide bid-ask spreads. The presenter uses the options flow to plot charts showing net intraday call and put flow, distinguishing between contracts traded at the ask and bid prices. The analysis involves identifying strikes where calls and puts are being bought or sold, with green indicating puts being bought.
Final Strategy & Trade Timing [12:25]
The presenter suggests waiting until after 10:00 AM to make any trades and plans to post updates on Twitter with gamma exposure pictures for SPX, NDX, QQQ, and SPY after the market opens. This will help traders see how market makers and dealers are repositioning. The presenter concludes by wishing viewers a happy St. Patrick's Day and encouraging them to like and subscribe.
