📋Morning Board 2026-10-07

Pre-open snapshot: prior close, VIX percentile, RSI(2), dealer gamma, expected range.

SymbolPrev closeChangeVIX / VXN (pct)GEX ($B/1%)Expected range
QQQ$759.66+0.46%21.1 (22nd pctile)-2.86B flip 759.91.01% (0.61–1.70)
SPY$779.09+0.55%15.0 (11th pctile)+7.54B flip 776.50.66% (0.39–1.17)
QQQ RSI(2)99 extreme
QQQ vs 200-day+13.4%
QQQ GammaDealers short gamma ($-2.86B per 1% move), flip 759.9 sits -0.8% above spot
How to read this · VIX

σ Volatility Indices (VIX / VXN)

VIX = S&P 500 30-day implied volatility (maps to SPY); VXN = the same measure for the Nasdaq 100 (maps to QQQ). Percentile = share of the past year (252 trading days) that closed below the current value.
Index Current Percentile 1-year range As of
VIX · SPY 15.01 11% pctile · Depressed (complacency)
13.5 ─ median 17.2 ─ 31.1
2026-10-06
VXN · QQQ 21.15 22% pctile · Near median
17.2 ─ median 23.3 ─ 33.5
2026-10-06
CBOE official daily closes (VIX from 1990, VXN from 2009). These are closing values, not intraday — the morning brief uses the prior session's close and the evening review the current close, so the series stays consistent with history with no point-in-time bias.

Full report: Morning report · Evening report

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Research output, not investment advice.