Max Delta 6 SPY 0DTE Intelligence Report

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Snapshot Time: 10:01 AM ET, June 25, 2025 (0-DTE June 25 expiration)

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1. Metadata & Regime

• Spot Price: $608.21 (Prev $606.78)

• SPX: 6 105.97 vs. 6 092.18 prior

• VIX: 17.16 vs. 17.48 prior

• GEX Regime: Positive (dealers long gamma)

• DEX Regime: Negative (dealers short delta)

• Max Δ Score: +1,100,394 (large positive Δ, call‐skew)

• Market Status: Open

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2. Dealer Hedge Metrics

Metric Value Interpretation Net DEX –$1.17 M Dealers net short delta—selling on rallies above spot λ-DEX –$1.22 B Concentrated delta hedges around $608 (short) Net GEX +$0.23 M γ Mild dealer long‐gamma support on dips λ-GEX +$152 M Big gamma block at $608–$609 strikes Flip Strike $610 Above this dealers flip from buy to sell