Max Delta 6 SPY 0 DTE Intelligence Report

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Snapshot: 9:05 AM ET, July 1, 2025 (0 DTE expiration)

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1. Metadata & Regime

• SPY Spot / Prev Close: $617.29 / $617.85 (–0.09 %)

• SPX Last / Prev: 6195.82 / 6204.95

• VIX Last / Prev: 16.97 / 16.73

• GEX Regime: Positive (dealers net long gamma)

• DEX Regime: Positive (dealers net long delta)

• Max Δ Score: +$152.3 K (dealers modestly long delta overall)

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2. Dealer Hedge Profile

Hedge Metric Value Strike Net GEX +$189.5 K γ $617 Net DEX +$156.5 K Δ $618 Max Γ/OI Strike $617 Peak γ/OI Max Δ/OI Strike $617 Peak Δ/OI Flip Strike $618 γ sign flip

Dealers’ largest gamma & delta concentrations lie at $617–$618, forming a potential “pin zone.”