Monday · 10 June 2025 — SPY Week-Open Preview The macro calendar is almost empty. Apart from wholesale-inventory revisions at 10 a.m. ET and a pair of Treasury bill auctions, there is no scheduled U.S. data. That leaves index-option positioning in charge until traders pivot to Wednesday’s CPI print and Thursday’s ECB meeting. Treasury supply is heavy all week, so any sharp rise in yields could still weigh on equity multiples, but futures were quiet in Sunday evening trade. Option-market backdrop Net gamma remains firmly positive at roughly +143 k, with about 62 percent on the call side. The largest call-side “anchor” is at **600**, while the deepest put-side pocket is at **595**. SPY closed almost exactly in between at **599.14**. When price sits inside such a band, dealer hedging u
Monday · 10 June 2025 — SPY Week-Open Preview The macro calendar is almost empty. Apart from wholesale-inventory revisions at 10 a.m. ET and a pair of Treasury bill auctions, there is no scheduled U.S. data. That leaves index-option positioning in charge until traders pivot to Wednesday’s CPI print and Thursday’s ECB meeting. Treasury supply is heavy all week, so any sharp rise in yields could still weigh on equity multiples, but futures were quiet in Sunday evening trade. Option-market backdrop Net gamma remains firmly positive at roughly +143 k, with about 62 percent on the call side. The largest call-side “anchor” is at **600**, while the deepest put-side pocket is at **595**. SPY closed almost exactly in between at **599.14**. When price sits inside such a band, dealer hedging u