VIP Content - Enter Email to Unlock
This content is exclusive to IKIGAI VIP members. Enter your registered email below to access the full EDGE analysis.
Not a VIP yet? Join IKIGAI Trading Academy
☕ SPY – SPY ZERO DTE (Pre-Market)
Date: Tue Aug 4, 2026 | Expiration: Aug 4, 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.
⚡ OPENING NOTE
SPY Spot: 758.33 ·
Max Pain: 743 ·
Flip: 745.98.
Price rallied hard and is now sitting deep above the Flip inside a heavy positive/pinning call cluster (755–760). The board is almost entirely positive.
Market Maker is long and leans against moves, so expect a held, grinding tape rather than a runaway. The 758–760 cluster is the pin at spot;
749 is the big positive support below.
Downside walls are tiny. Read it with structure — no levels, no trade.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
759,760,749,758.33,743,745.98,741,740,746,749
SPX String:
7590,7600,7490,7583.3,7430,7459.8,7410,7400,7460,7490
Options Flow — VOLUME (Strike, Calls, Puts):
760, 93K, 8K
759, 105K, 16K
750, 8K, 55K
749, 3K, 24K
746, 1K, 17K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
760, 3K, 0K
759, 2K, 0K
750, 5K, 1K
749, 13K, 1K
746, 1K, 2K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
746 BLUE (Plus)
740 BLUE (Plus)
741 BLUE (Plus)
742 BLUE (Plus)
738 BLUE (Plus)
749 GREEN (Plus)
760 GREEN (Plus)
759 GREEN (Plus)
758 GREEN (Plus)
755 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (15 Min):
| Structure | Level | Status |
|---|---|---|
| HH (Higher High) | ~760.00 | Recent high (uptrend) |
| HL (Higher Low) | ~755.00 | Uptrend support |
| Current | ~757.7 | Pinning at the highs |
🎯 CONFLUENCE — 755–760 IS THE PIN CLUSTER
📊 DECISION TABLE
| Level | What It Is | Action |
|---|---|---|
| 760 | Mama Bull (+19.9M) | Top pin |
| 759 | Baby Bull (+18.8M) | Pin |
| 758.33 | ☕ WE ARE HERE (Spot) | In the pin cluster |
| 758 | Positive (Abs #4) | Pin |
| 755 | Positive (Abs #5) — HL support | Pin/support |
| 750 | Positive (Abs #7) | Step-down support |
| 749 | 🎯 #1 Abs (24.3M) + Daddy Bull (+21.7M) | Big positive support (Case B) |
| 745.98 | 🟠 FLIP | Regime gate (far below) |
| 746 / 743 | Tiny bear / Max Pain | Weak magnets far below |
| 741 / 740 | Minor bears | Thin |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BULLS (Positive):
| Bull | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| B1 = DADDY | 749 | +21.7M | 14.0K | 27.0K |
| B2 = MAMA | 760 | +19.9M | 2.8K | 100.3K |
| B3 = BABY | 759 | +18.8M | 2.4K | 121.0K |
B1 (749) is also the #1 Absolute Exposure strike — the big support below (Case B).
THE THREE BEARS (Negative):
| Bear | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| S1 = DADDY | 746 | −0.8M | 3.4K | 18.1K |
| S2 = MAMA | 740 | −0.2M | 3.9K | 9.7K |
| S3 = BABY | 741 | −0.2M | 3.6K | 3.2K |
🟢 Extreme bull board. Bulls 60.4M vs Bears ~1.3M ≈ 47:1. There is essentially no negative exposure — pure positive/pinning regime; the only question is whether price holds the 755/749 supports.
☕ RANGE ZONE
| Zone | Why |
|---|---|
| 755 — 760 | Spot pins inside the dense positive call cluster. Positive exposure holds price here — expect a tight, grinding range at the highs. Below, 749 is the next positive shelf; above 760, the pins thin out. |
🎯 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.
⚖️ 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 ☕