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
☕+ Daily SPY SPX ZERO DTE Levels
Date: Tue Jul 14, 2026 | Expiration: Jul 14, 2026
We study SPY and Trade SPX SPDR 500 ZERO DTE Index.
⚡ OPENING NOTE — VOLATILITY WATCH
Heads up, pilots. Today’s board is net negative Market Maker exposure.
In plain terms: the Market Makers are positioned in a way that can add fuel to moves instead of cushioning them.
Translation for us — expect a wider range and faster swings than a normal grind day.
Let the levels and structure confirm, size down if you need to, and respect that both sides can run.
No levels = no trade
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
760,747,755,748.13,751,749.96,745,740,750,750
SPX String:
7600,7470,7550,7481.3,7510,7499.6,7450,7400,7500,7500
Options Flow — VOLUME (Strike, Calls, Puts):
760, 32K, 0K
755, 74K, 4K
753, 75K, 30K
750, 68K, 109K
747, 8K, 38K
745, 1K, 61K
740, 0K, 49K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
760, 5K, 0K
755, 5K, 2K
753, 3K, 2K
750, 3K, 8K
747, 3K, 2K
745, 1K, 5K
740, 0K, 9K
🧭 STRUCTURE CHECK
Market Structure (5 Min) — read from chart:
| Structure | Level | Status |
|---|---|---|
| LH (Lower High) | 752.00 | Structure resistance |
| LH (Lower High) | 750.00 | Recent lower high — reclaim = shift |
| LL (Lower Low) | 748.00 | Support / structure target |
Q ALGO™ Status: 🔴 LH + LL = BEARISH
We closed at 748.13, below the Flip (749.96) and below Max Pain (751), sitting right on the 748 support / LL. Bears hold structure while price stays under 750. A reclaim and hold above 750 would start to shift this; below 748 opens the lower bears.
Note: swing levels read off your 5-min chart — adjust if your indicator marks the exact HH/LL differently.
🎯 CONFLUENCE — 750 IS THE WHOLE BALLGAME
750 stacks the two biggest forces on the board: the
#1 Absolute MM Exposure (54M) AND the Daddy Bear (−27.8M, the largest negative wall). It sits one tick under Max Pain (751) and one point above spot. This is the magnet and the battle line.
Bears keep control while price is capped under 750; a decisive reclaim of 750 flips the tone toward the 751 Max Pain and the 752 Abs above.
📊 DECISION TABLE
| Level | What It Is | Action |
|---|---|---|
| 760 | B3 / BABY Bull (+4.6M MM Exposure) | Upside extension |
| 755 | B1 / DADDY Bull (+7.5M MM Exposure) | Bull target / call area |
| 753 | Abs #4 — heavy call volume (75K) | Resistance on the way up |
| 752 | Abs #2 (24.3M) | Top of the trend-harder band |
| 751 | 🔵 MAX PAIN | MM magnet overhead |
| 750 | 🎯 S1 / DADDY Bear (-27.8M) + #1 Abs (54M) | Main battleground — must reclaim |
| 749.96 | 🟠 FLIP | Below = Bears (we are below) |
| 748.13 | ☕ WE ARE HERE (Spot) | Sitting on the LL |
| 747 | B2 / MAMA Bull (+6.3M) — ITM calls | Support pocket |
| 745 | S3 / BABY Bear (-11.9M MM Exposure) | Bear target |
| 740 | S2 / MAMA Bear (-16.5M MM Exposure) | Deeper bear target |
🎯 THREE BEARS / THREE BULLS
THE THREE BEARS (by MM Exposure size):
| Bear | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| S1 = DADDY | 750 | -27.8M | 11.2K | 177.5K |
| S2 = MAMA | 740 | -16.5M | 9.0K | 48.8K |
| S3 = BABY | 745 | -11.9M | 5.7K | 62.0K |
S1 (750) is also the #1 Absolute Exposure strike — see Confluence above.
THE THREE BULLS (by MM Exposure size):
| Bull | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| B1 = DADDY | 755 | +7.5M | 6.6K | 78.0K |
| B2 = MAMA | 747 | +6.3M | 5.4K | 45.7K |
| B3 = BABY | 760 | +4.6M | 5.4K | 31.7K |
🔴 Bears 56.2M vs Bulls 18.4M = 3.1:1 bears. Chart is RED. The heavy Market Maker exposure sits at and below spot — bears own the board.
☕ RANGE ZONE
| Zone | Why |
|---|---|
| 750 — 752 | Price sits between the #1 Abs strike (750) and #2 Abs (752). A strong trend is harder to form inside this band. Below it (under 750) bears run; a reclaim into it turns choppy. |
Commentary: 750 carries the highest total volume on the board (177K) and 752 the second (107K) — no separate call/put split for 752, so it stays out of the flow table. 748 is the near-term support shelf.
🎯 Q ALGO™ CHECKLIST — WE DON’T TRADE EMOTIONS, WE LOOK FOR CLUES
| Step | What We Check |
|---|---|
| 1 | LEVELS (from this newsletter)
Pre Market |
| 2 | 15-Min chart Before Market Open and tillyou trade. |
| 3 | 5-Min chart on Open and till you trade. |
| 4 | 1-Min chart |
| 5 | BANDS RED – Q3 Trend and white PB line. Darren Oliver’s secret sauce. |
| 6 | River – Gary’s twists. |
| 7 | Volume Line (Fair Value) |
| 8 | Candle for Entry – Yr Choice. HK or Regular or a pasta of all. You decide whatever you like. |
| 9 | Flip Line |
| 10 | Trend Context (Trend Engine) |
| 11 | Pivots |
| 12 | LQ Areas |
| 13 | Entry Candle ~ Velocity |
| 14 | Flow |
| 15 | VSA + QVDD |
No Structure = No Trade. Not all checklist items need to align — build your edge based on your own edge. On a volatility day, wait for the hold.
⚖️ 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 ☕