Max Delta 6 SPY 0DTE Intelligence Report

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Snapshot: 9:52 AM ET, June 30, 2025 (0 DTE June 30 Expiration)

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1. Metadata & Market Regime

• SPY Spot / Prev Close: $616.45 / $614.91 (↑ 0.25 %)

• SPX: 6 186.58 / 6 173.07

• VIX: 17.31 / 16.32

• GEX Regime: Positive (dealers net long gamma)

• DEX Regime: Positive (dealers net long delta)

• Max Δ Score: –$549 K (slight net short dealer delta)

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2. Dealer Hedge Profile

Metric Value Strike Net GEX +$250 K γ $616 Net DEX +$340 K Δ $616 Max Gamma Strike $610 Peak γ Max λ-GEX Strike $620 Peak λγ Flip Strike $617 Γ sign change

Dealers are positioned with a gamma/delta bulge around $616, creating a local “squeeze” zone.