Max Delta 6 SPY 0DTE Intelligence Report

Powered by Max Delta 6

July 3, 2025 · 09:50 AM ET

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1. Market Snapshot & Regime

• SPY Spot: $623.89 (+0.54% vs yesterday)

• SPX: 6 261.27 vs 6 227.42

• VIX: 16.36 (–0.28)

• Regime: Positive GEX & DEX (dealers long both gamma & delta)

• Max Delta Score: –$0.96 M (nearly neutral)

• Pinning Force: 0.10 (low pin risk)

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2. Dealer Hedging Profile

Metric Value Strike Net GEX +$353.8 K γ 625 Net DEX +$2.28 M Δ – Max γ Strike 625 Gamma peak Max Δ Strike 618 Delta peak Flip Strike 618 Gamma sign flips

• Dealers are long gamma highest at $625 and long delta comfortably, implying they will sell volatility above $625 and buy above-the-money calls to hedge.