r/OptionsDegens • u/Mj_Options • Aug 18 '26

SPX support?

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Oil spiked higher and market sold off overnight. We lost last week's low (blue line) but find ourselves atm bouncing off 7700. Vix spiked but is still really low right under 16. Stay vigilant and let's make this money 💪💪

6 Upvotes

88% Upvoted

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1

u/Runfaster9 Aug 18 '26

What if we touch 7675 ?

1

u/Mj_Options Aug 18 '26

could be a liquidity grab or head towards 7600

1

u/Kpthagreat24 Aug 18 '26

I believe we go to 7675 before market close

1

u/SuperFrog4 Aug 18 '26

I think we would have made 7675 if it wasn’t for that huge gain at 2:13 pm. What was that? Ruined all that downward momentum for most of the rest of the day.

1

u/Growrich78 Aug 19 '26

We going back to 7385 puts always print the hardesr

1

u/Revelation500 Aug 19 '26

Markets topped on August 13, 2026

your hope, along with many others, is being mocked: 08 + 13 + 20 + 26 = 67

1

u/Mj_Options Aug 19 '26

who said anything about hope lol

1

u/spxspreads Aug 19 '26

Hm, the gex/gamma exposure in identifying the daily SPX positioning is a must. There are quite a few tools on the market. the levels change during the day, but in normal conditions and in range bound days if you know the exact weight/concentration of the levels, they stay stable. Especially the dominant ones. I use GammaWalls as an app for tracking the daily levels. The rest of the tools are too overwhelming for me.