SPY/ES Gamma Chart Analysis – April 30, 2025
Key Insights Based on SpotGamma Levels, Volume Profile & Option Walls:
🔴 Market Context:
SPY at 544.52, showing a significant drop of -1.78%.
The price has broken down from the upper gamma range and is now testing key support zones.
Heavy Put Walls and Call Walls are defining psychological and gamma-driven price magnets.
🔵 Zones & Price Targets:
Zone Type Level Description / Reaction Expectation
🔺 Resistance 550 Strong Call Wall & Put Wall, likely a ceiling. Reversal or rejection expected.
🟨 Sell Zone 545 Marked as "Possible Sell Zone", coincides with Put Wall (1) / Call Wall (4) – watch for short entries.
🟩 Buy/Sell Zone 543.70 Neutral area, can serve as battle zone for bulls/bears. Volume shelf area.
🔻 Support 540 Converging Put Wall (3) / Call Wall (5) – strong gamma support, watch for bounce or breakdown.
🎯 Target Levels (Bearish Plan):
Target # Level Description
1️⃣ 545 Minor drop target, near-term scalp if price rejects from above.
2️⃣ 543 Medium target if selling pressure continues.
3️⃣ 540 Major target, strong support – key test for further downside continuation.
📈 Bullish Scenario (Lesser Probability Today):
Reclaim of 548–550 zone may trigger long setups with potential targets:
548 ES
550 ES
🧠 Strategic Takeaways:
"Options positioning is pointing to downside pressure unless bulls reclaim 545-548 area quickly."
Ideal setup: Short bounces into 545 with stops above 548.
Targets staggered from 543 to 540 based on gamma support layers.
Vol Trigger: 550, showing the zone where volatility starts increasing – another bearish sign.
Key Insights Based on SpotGamma Levels, Volume Profile & Option Walls:
🔴 Market Context:
SPY at 544.52, showing a significant drop of -1.78%.
The price has broken down from the upper gamma range and is now testing key support zones.
Heavy Put Walls and Call Walls are defining psychological and gamma-driven price magnets.
🔵 Zones & Price Targets:
Zone Type Level Description / Reaction Expectation
🔺 Resistance 550 Strong Call Wall & Put Wall, likely a ceiling. Reversal or rejection expected.
🟨 Sell Zone 545 Marked as "Possible Sell Zone", coincides with Put Wall (1) / Call Wall (4) – watch for short entries.
🟩 Buy/Sell Zone 543.70 Neutral area, can serve as battle zone for bulls/bears. Volume shelf area.
🔻 Support 540 Converging Put Wall (3) / Call Wall (5) – strong gamma support, watch for bounce or breakdown.
🎯 Target Levels (Bearish Plan):
Target # Level Description
1️⃣ 545 Minor drop target, near-term scalp if price rejects from above.
2️⃣ 543 Medium target if selling pressure continues.
3️⃣ 540 Major target, strong support – key test for further downside continuation.
📈 Bullish Scenario (Lesser Probability Today):
Reclaim of 548–550 zone may trigger long setups with potential targets:
548 ES
550 ES
🧠 Strategic Takeaways:
"Options positioning is pointing to downside pressure unless bulls reclaim 545-548 area quickly."
Ideal setup: Short bounces into 545 with stops above 548.
Targets staggered from 543 to 540 based on gamma support layers.
Vol Trigger: 550, showing the zone where volatility starts increasing – another bearish sign.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.