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 ZERO DTE (Pre-Market)
Date: Thu Aug 6, 2026 | Expiration: Aug 6, 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: 771.54 Closed Wed.
Max Pain: 758 ·
Flip: 758.37.
The character changed overnight — after two pinning days, the strikes right at spot (767–773) flipped to a negative cluster. Clear and hold 774/775 → the positive pin; lose the 767–768 shelf → amplification down toward the far Max Pain at 758. Read it with structure — no levels, no trade.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
780,779,775,771.54,758,758.37,767,768,771,772
SPX String:
7800,7790,7750,7715.4,7580,7583.7,7670,7680,7710,7720
Options Flow — VOLUME (Strike, Calls, Puts):
775, 68K, 24K
772, 60K, 50K
771, 34K, 78K
770, 12K, 80K
768, 2K, 42K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
775, 4K, 0K
772, 3K, 4K
771, 2K, 5K
770, 3K, 4K
768, 2K, 5K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
772 RED (Minus)
771 RED (Minus)
770 RED (Minus)
768 RED (Minus)
773 RED (Minus)
775 GREEN (Plus)
779 GREEN (Plus)
780 GREEN (Plus)
778 GREEN (Plus)
776 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
| Structure | Level | Status |
|---|---|---|
| HH (High) | ~777.00 | Session high — faded |
| LL (Lower Low) | ~770.00 | Pullback low |
| Current | ~770.6–771 | Basing / chop |
Q ALGO™ Status: 🔄 PULLBACK / basing under the highs
SPY topped near 777, pulled back to ~770, and is chopping/basing in the 770–772 band. Reclaim and hold above 772/773 for a push back to 775; lose 770 and the negative cluster amplifies toward 767/768. (Structure chart reads ~770.6–771; the exposure snapshot reads spot 771.54 — aligned.)
🎯 CONFLUENCE — 770–772 IS THE NEGATIVE CLUSTER AT SPOT
Spot is sitting on a negative cluster: 772 is the #1 Absolute (42.1M, net −3M), 771 is the Daddy negative (−21.5M), and 770/768 are negative too. On negative exposure, price gets pushed through these, not pinned — expect wider swings right here. Above 774, the board turns positive, with 775 (+18.9M, Daddy Bull) the pin/target. Below, 767/768 are the negative shelf, and beneath that Max Pain 758 is a far magnet. The tape amplifies until it clears 774 up or loses 767 down.
📊 DECISION TABLE
| Level | What It Is | Action |
|---|---|---|
| 780 | Baby Bull (+6.3M) | Upside extension |
| 779 | Mama Bull (+9.1M) | Pin |
| 775 | 🎯 Daddy Bull (+18.9M) + Abs #7 | Positive pin/target above |
| 773 | Abs #5 (28.6M) — negative | Overhead battle |
| 772 | 🎯 #1 Abs (42.1M) — negative (net −3M) | The wall at spot |
| 771.54 | ☕ WE ARE HERE (Spot) | On the negative cluster |
| 771 | 👹 Daddy Bear (−21.5M) + Abs #2 | Amplifier at spot |
| 770 | Abs #3 (38.9M) — negative | Battle |
| 768 | Mama Bear (−14.8M) + Abs #4 | Shelf below |
| 767 | Baby Bear (−8.8M) + Abs #6 | Deeper shelf |
| 758 | 🔵 MAX PAIN + 🟠 FLIP | Far magnet below |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BEARS (Negative):
| Bear | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| S1 = DADDY | 771 | −21.5M | 7.0K | 112.1K |
| S2 = MAMA | 768 | −14.8M | 7.3K | 44.4K |
| S3 = BABY | 767 | −8.8M | 6.2K | 35.4K |
S1 (771) sits right at spot — the amplifier. 772 (Abs #1) is right beside it.
THE THREE BULLS (Positive):
| Bull | Strike | MM Exposure | OI | Volume |
|---|---|---|---|---|
| B1 = DADDY | 775 | +18.9M | 4.8K | 92.5K |
| B2 = MAMA | 779 | +9.1M | 3.9K | 27.9K |
| B3 = BABY | 780 | +6.3M | 4.2K | 59.1K |
🔴 Balanced-to-bearish at spot. Bears 45.1M vs Bulls 34.3M ≈ 1.3:1 — but the negatives sit at spot (amplify) while the positives are above at 775+. Character flipped from pinning to amplification.
☕ RANGE ZONE
| Zone | Why |
|---|---|
| 767 — 775 | Spot is in the negative cluster (767–773); a strong trend is harder to form inside it, but on negative exposure a break of either edge runs fast. Clear 774 into the 775 positive pin; lose 767 and it amplifies toward 758. |
🎯 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. Amplification at the highs: respect the wider swings, wait for the 774 reclaim or the 767 break.
⚖️ 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 ☕