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SPY + SPX ZERO DTE (Pre-Market) Expiration: Aug 13, 2026
Date: Thu Aug 13, 2026 | We study SPY and Trade SPX SPDR 500 ZERO DTE Index.
🎯 QZ ALGO CREED — Probability Over Prediction
We don’t forecast. We read positioning — where Market Maker exposure sits, where the walls are, and how MM is priced across strikes. That tells us where price is constrained, not where it’s going. Structure decides the trade.
📋 EXECUTIVE DASHBOARD — SPY Thu Aug 13, 2026
| Snapshot | Value | Read |
|---|---|---|
| Spot | 772.3 | Sitting at the 773/774 flip |
| Max Pain | 771 | Just below spot |
| Flip | 764.84 | Spot above the Flip → supported regime |
| #1 / #2 Absolute | 773 / 774 | Spot between them — a hard-to-trend chop zone |
LEVEL LADDER (high → low):
| Dir | Level | Role |
|---|---|---|
| 🟢 ▲ | 777 | Baby Bull (+9.6M) |
| 🟢 ▲ | 775 / 774 | Positive pins — 775 Daddy Bull (+22.2M), 774 the flip to green |
| 🟡 ◆ | 773 | #1 Absolute — net −12.5M (top of the negative cluster) |
| ☕ | 772.3 | WE ARE HERE — between #1 & #2 Abs |
| 🔴 | 772 / 771 | Negative — 771 = Max Pain |
| 🔴 ▼ | 770 | Daddy Bear (−13.6M) |
| 🔴 ▼ | 768 / 767 | Negative shelf (LL 769.20 between) |
THE THREE PATHS:
| Path | Trigger → Target |
|---|---|
| 🟢 Bullish | Reclaim 773 → 774 (flip green) → 775 pin |
| ⚪ Neutral | Chop 771–774 (spot between #1/#2 Abs — no-trend zone) |
| 🔴 Bearish | Lose 771/770 → 768 / 767 toward the Flip |
⚡ OPENING NOTE
SPY Spot: 772.3 · Max Pain: 771 · Flip: 764.84.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
777,774,775,772.3,771,764.84,767,773,770,773
SPX String:
7770,7740,7750,7723,7710,7648.4,7670,7730,7700,7730
Options Flow — VOLUME (Strike, Calls, Puts):
775, 48K, 6K
774, 76K, 15K
773, 70K, 59K
772, 35K, 93K
771, 12K, 42K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
775, 4K, 1K
774, 5K, 2K
773, 2K, 4K
772, 3K, 3K
771, 3K, 3K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
773 BLUE (Plus)
772 BLUE (Plus)
771 BLUE (Plus)
770 BLUE (Plus)
768 BLUE (Plus)
774 GREEN (Plus)
775 GREEN (Plus)
777 GREEN (Plus)
776 GREEN (Plus)
778 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
| Structure | Level | Status |
|---|---|---|
| HH (Higher High) | 774.90 | Liquidity — no structure |
| LL (Lower Low) | 769.20 | Liquidity — no structure |
| Current | ~772.6 | Chopping mid-range |
Q ALGO™ Status: 🔄 STRUCTURE SHIFTING (chop)
SPY is caught between an unconfirmed HH at 774.90 and LL at 769.20 — both tagged liquidity/no-structure — and is chopping around the pivot (P 771.41) near 772.6. This is a no-clear-structure tape: wait for a decisive break of 774.90 (up) or 769.20 (down) before trusting direction. (Structure chart reads ~772.6; the exposure snapshot reads spot 772.3 — aligned.)
📊 DECISION TABLE
| Level | What It Is | Action |
|---|---|---|
| 777 | Baby Bull (+9.6M) | Upside pin |
| 775 | 🎯 Daddy Bull (+22.2M) + Abs #6 | Pin/target |
| 774 | 🎯 Mama Bull (+18.6M) + Abs #2 | The flip to green |
| 773 | 🎯 #1 Abs (46.6M) — net −12.5M | Flip point / top of negative cluster |
| 772.3 | ☕ WE ARE HERE (Spot) | Between #1 & #2 Abs |
| 772 | Abs #3 (44.5M) — net −4.5M | Battle |
| 771 | 🔵 MAX PAIN + Abs #4 (44.3M) — net −2M | Pin/battle |
| 770 | 👹 Daddy Bear (−13.6M) + Abs #5 | Shelf |
| 769 | Abs #8 (12.9M) — LL 769.20 | Key floor |
| 768 | Abs #7 (14.2M) — negative | Shelf |
| 767 | 👹 Baby Bear (−7.4M) | Deeper shelf |
| 764.84 | 🟠 FLIP | Regime gate (far below) |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BULLS (Positive):
| Bull | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| B1 = DADDY | 775 | +22.2M | 5.0K | 53.8K |
| B2 = MAMA | 774 | +18.6M | 6.8K | 91.7K |
| B3 = BABY | 777 | +9.6M | 2.9K | 37.6K |
B2 (774) is also #2 Absolute — the flip strike right above spot.
THE THREE BEARS (Negative):
| Bear | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| S1 = DADDY | 770 | −13.6M | 5.3K | 67.9K |
| S2 = MAMA | 773 | −12.5M | 6.5K | 128.7K |
| S3 = BABY | 767 | −7.4M | 2.7K | 15.0K |
⚪ Balanced board, slight bull. Bulls 50.4M vs Bears 33.5M ≈ 1.5:1. The bulls sit just above (774/775) and the bears just at/below (770/773) — with spot wedged on the 773/774 flip, it’s a chop map until one edge breaks. Max Pain 771 sits inside the negative cluster.
☕ RANGE ZONE
| Zone | Why |
|---|---|
| 770 — 775 | Spot is wedged between the #1 (773) and #2 (774) Absolute strikes inside the dense 770–775 cluster. Price between the two biggest Abs strikes struggles to trend — expect chop; the edges (774/775 up, 770/771 down) are where it resolves. |
Commentary: 773 carries the highest total volume on the board (128.7K), with 772 (127.8K) and 774 (91.7K) right behind — enormous two-way churn packed into the flip zone at spot. Only strikes with a clean call/put split appear in the flow tables.
🎯 Q ALGO™ CHECKLIST — WE DON’T TRADE EMOTIONS, WE LOOK FOR CLUES
| Step | What We Check |
|---|---|
| 1 | LEVELS (from this newsletter) |
| 2 | 15-Min chart |
| 3 | 5-Min chart |
| 4 | 1-Min chart |
| 5 | BANDS |
| 6 | River |
| 7 | Volume Line (Fair Value) |
| 8 | Candle for Entry |
| 9 | Flip Line |
| 10 | Trend Context (Trend Engine) |
| 11 | Pivots |
| 12 | LQ Areas |
| 13 | Entry Candle |
| 14 | Flow |
| 15 | VSA + QVDD |
No Structure = No Trade. Not all checklist items need to align — build your edge based on your own edge. Chop day at the flip: wait for the 774 flip up or the 770/771 loss down — don’t force the middle.
🎁 BONUS — PCR CONTRARIAN VIEW (OI-based)
The standard read says put-heavy = support and call-heavy = resistance. The contrarian read flips it: when the crowd is heavily loaded one way, that positioning becomes fuel for the opposite move. Extreme put-heavy = too much fear/hedging = squeeze fuel UP. Extreme call-heavy = too much greed/complacency = a trap/cap.
Contrarian takeaway: 774/775 is the overhead resistance zone. 772/773 is the support zone.
The board is only slightly call-heavy, so there is no strong contrarian edge right now.
Simple read:
774/775 = possible rejection
772/773 = possible support
Between them = chop
Structure decides the trade. Contrarian signals only confirm the story.
⚖️ Disclaimer
This is not investment advisory. I’m not calling trades. I’m teaching you to think. Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not indicative of future results. The IKIGAI Algo and any associated indicators, tools, or educational materials are provided for informational and educational purposes only and do not constitute financial, investment, or trading advice. You should consult with a qualified financial advisor before making any trading decisions. Q Levels and affiliated parties are not registered investment advisors, broker-dealers, or financial planners. By participation, you acknowledge you are solely responsible for your own trading decisions and any resulting gains or losses. No guarantees of profit or specific results are made or implied. All sales are final. Please trade responsibly and only risk capital you can afford to lose. Errors and omissions excepted.
— Q Levels Trading | Coffee With Q ☕