☕ SPY and SPX ZERO DTE (Pre-Market)
Date: Mon Aug 3, 2026 | Expiration: Aug 3, 2026
We study SPY and Trade SPX SPDR 500 ZERO DTE Index.
⚡ OPENING NOTE
SPY Spot: 744.2
Max Pain: 740
Flip: 746.36.
📊 TV VALUES
SPY String — paste into QZ ALGO Daily Magnets:
749,752,750,744.2,740,746.36,742,740,741,750
SPX String:
7490,7520,7500,7442,7400,7463.6,7420,7400,7410,7500
Options Flow — VOLUME (Strike, Calls, Puts):
752, 48K, 1K
750, 88K, 8K
749, 55K, 0K
747, 53K, 38K
745, 61K, 63K
741, 19K, 35K
Options Flow — OPEN INTEREST (Strike, Calls, Puts):
752, 4K, 0K
750, 7K, 1K
749, 2K, 0K
747, 2K, 2K
745, 3K, 2K
741, 2K, 3K
🌡️ QZ TEMPERATURE
🌡️ SPY — Level then COLOR (Sign):
741 BLUE (Plus)
740 BLUE (Plus)
742 BLUE (Plus)
725 BLUE (Plus)
735 BLUE (Plus)
750 GREEN (Plus)
745 GREEN (Plus)
752 GREEN (Plus)
747 GREEN (Plus)
744 GREEN (Plus)
🧭 STRUCTURE CHECK
Market Structure (5 Min):
| Structure |
Level |
Status |
| HH (Higher High) |
~746.80 |
Recent high (uptrend) |
| HL (Higher Low) |
rising |
Uptrend support markers |
| Current |
~747.6 |
Pushing the highs |
🎯 CONFLUENCE — 750 IS THE PIN
750 is the magnet overhead: the #1 Absolute MM Exposure (42.8M) and the Daddy Bull (+33.8M, by far the biggest positive on the board), backed by 752 (+20.4M) and 749 (+9.2M).
Above the Flip (746.36), positive exposure pins price toward this 749–752 cluster. The downside is thin — the biggest negative is only −4.1M at 741 — so unless price loses 740, the pull is up toward the 750 pin.
📊 DECISION TABLE
| Level |
What It Is |
Action |
| 752 |
Mama Bull (+20.4M) |
Upside pin |
| 750 |
🎯 #1 Abs (42.8M) + Daddy Bull (+33.8M) |
The pin/target |
| 749 |
Baby Bull (+9.2M) |
Pin |
| 747 |
Abs #4 (16.9M, ~flat) |
Battle |
| 746.36 |
🟠 FLIP |
The gate up |
| 745 |
Abs #2 (21.9M, net +5.5M) |
Step up |
| 744.2 |
☕ WE ARE HERE (Spot) |
— |
| 742 / 741 |
Small negative pocket |
Weak drag |
| 740 |
🔵 MAX PAIN + Mama Bear (−3.1M) |
Magnet below |
| 735 / 725 |
Minor bears |
Deeper (thin) |
🎯 THREE BEARS / THREE BULLS (by MM Exposure size)
THE THREE BULLS (Positive):
| Bull |
Strike |
MM Exposure |
OI |
Volume |
| B1 = DADDY |
750 |
+33.8M |
7.6K |
95.6K |
| B2 = MAMA |
752 |
+20.4M |
4.2K |
48.4K |
| B3 = BABY |
749 |
+9.2M |
2.4K |
55.2K |
B1 (750) is also the #1 Absolute Exposure strike — see Confluence.
THE THREE BEARS (Negative):
| Bear |
Strike |
MM Exposure |
OI |
Volume |
| S1 = DADDY |
741 |
−4.1M |
5.2K |
53.8K |
| S2 = MAMA |
740 |
−3.1M |
4.9K |
106.9K |
| S3 = BABY |
742 |
−3.0M |
3.2K |
90.0K |
🟢 Strong bull board. Bulls 63.4M vs Bears 10.2M ≈ 6.2:1. The 750 pin dominates; the downside is thin and weak — positive/pinning tilt as long as 740 holds.
☕ RANGE ZONE
| Zone |
Why |
| 744 — 750 |
Spot sits between the 740/746 support and the 750 pin. Above the Flip (746.36), positive exposure pins price toward 749/750 — expect grind up while 740 holds. Lose 740 and the (thin) negatives below come into play. |
Commentary: 745 carries the highest total volume on the board (124K), with 748 (97K) and 750 (96K) close behind. 744/749 have no clean call/put split, so they stay out of the flow table.
🎯 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. Positive/pinning day: grind toward 750, wait for the 746.36 reclaim or the 740 break.
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 ☕
