SPY 0DTE Options

Expiry: 2026-05-18  ·  0 min remaining  ·  9:14:45 PM UTC  ·  Data delayed ~15 min  ·  v1.4

⚠️ This contract has expired. Data shown is for historical reference only.
⚠️

Extreme Put Flow — $737 Strike

vol/OI 53.96x — extreme new positioning on put

Spot Price

$738.03

BS Fair: $—

Max Pain

$740

Spot $2.07 below ▼

PCR

—

n/a

Gamma Flip

$739

Spot below → −GEX

Net GEX

-1.86B

Negative regime

IV Skew

0.114

Put IV premium

Regime: ✗ NEGATIVE GEX EXTREME PUT PRESSURE GEX EXTREME SPOT < γ FLIP $739 SPOT $2.07 BELOW MAX PAIN

Key Strikes — OI & Flow

Strike Type Call OI Put OI Vol/OI IV GEX

Market Structure

PCR (bearish →) —

n/a bias

IV Skew 0.114

Put IV premium vs calls

GEX Regime -1.86B

Dealers short gamma

Pain Distance $2.07

Spot vs $740 max pain

Key Levels

🟢 Call Wall $750
🔵 Gamma Flip $739
📌 Spot (delayed) $738.03
🟡 Max Pain $740
🔴 Put Wall $720

ETF Context — Prev Day Close

QQQ

$708.93

-0.17%

IWM

$277.60

-0.96%

VIXY

$26.93

-2.14%

TLT

$83.66

-0.25%

GLD

$417.29

-0.08%

XLF

$51.10

-0.43%

📋 Key Takeaways

1

Spot at $738.03 is below the $739 gamma flip — dealers are short gamma, amplifying moves.

2

PCR unavailable (expired contract).

3

Max pain at $740 is $2.07 above spot. Pin pressure intensifies into close — likely settling zone near $739–$750.

4

$737 put extreme flow (vol/OI 53.96×): vol/OI 53.96x — extreme new positioning on put