Grandma’s OI-Based SPX Analysis for Thursday, September 4, 2025,
🎯 SPX Spot Reference: 6448.26
📆 0DTE Expiration: 09/04/25
📍 Max Pain: 6425
📊 Bias: Neutral-to-bearish opening below 6450
✅ Summary:
- SPX is just below M1 (6450) → strong magnet, but also resistance
- Max Pain (6425) is your most likely chop/pin zone
- 6400 remains the strongest OI magnet below — large risk zone
📈 If We Go Up From Here
| Magnet | Level | Details |
| M1 | 6450 | 🔥 Most active strike — 2,888 total OI, 13,873 volume. Big inflection zone. |
| M2 | 6460 | 1,017 OI, decent volume — possible continuation if bulls press early |
| M3 | 6475 | 1,605 OI, smaller volume — chase zone, needs strong flow |
🧠 Read:
If bulls reclaim 6450 early, momentum could carry to 6460, possibly 6475 if they build pressure. Watch for rejection at M1 or M2 if flows stall.
📉 If We Go Down From Here
| Magnet | Level | Details |
| D1 | 6440 | 1,243 OI, 11,332 volume — holding for now, but shallow defense |
| D2 | 6425 | 🎯 Max Pain — 2,435 total OI, high volume — strong magnet for chop or pin |
| D3 | 6400 | 📌 Largest OI (4,941) — downside gravity if 6425 fails |
🧠 Read:
If SPX loses 6440 with conviction, expect quick tagging of 6425. Below that, 6400 opens up with strong pull due to concentrated positioning.
🎯 Grandma’s Intraday Playbook
| Direction | Trigger | Magnet | Stretch |
| ⬆️ Up | Break above 6450 | 6460 | 6475 |
| ⬇️ Down | Below 6440 | 6425 | 6400 |
IMPORTANT DISCLAIMER
This content is for educational purposes only and should not be considered financial advice. Trading involves substantial risk and may not be suitable for all investors. Past performance does not guarantee future results. Please consult with a qualified financial advisor before making any trading decisions. The author assumes no responsibility for any losses that may occur from following this information.