SPX Pre-NY Open map — Friday 30 October 2026

Anchored at 7590 today and 7700 over the next three days: the options map is steadying further out.

Prior close 7,720.39 (SPX, Yahoo, 29 Oct) · VIX 18.73 (Yahoo, 08:16 ET) · Indicated level 7,633.20 (SPX perpetual, Hyperliquid, not the index; −87.19 pts vs the prior close) · Options snapshot 08:30 ET

Read this first. This describes overnight positioning at the 08:30 ET snapshot. It is a description, not a forecast. The actual open can change it radically, and often does: new positioning arrives at 09:30 ET and can reverse the picture.

How to read it. Steadying means net gamma is positive and market-maker hedging tends to lean against a move; amplifying means it is negative and hedging tends to follow a move. The anchor is the strike within 100 points of the print with the largest positive net, the weak spot the one with the largest negative net.

Today (30 Oct expiry)

Steadying, net +20.7 M$/pt. That is higher than 8 of the last 20 sessions at this hour.

Since the 29 Oct close it went from +52.4 to +20.7 (−31.7); the 29 Oct 20:00 to 30 Oct 04:00 ET window is where the new positioning formed.

The anchor is 7590 (+18.9), the strongest positive strike; the weak spot is 7600 (−31.0), the largest negative.

One-day expected move: ±91.1 points, a box of 7,629.3 to 7,811.5 (prior close × VIX ÷ 100 × √(1/252)).

The next three expiries (2, 3 and 4 Nov)

Steadying, net +8.3 M$/pt combined. That is higher than 10 of the last 20 sessions at this hour.

Since the 29 Oct close it went from +20.6 to +8.3 (−12.4).

Over these three expiries the anchor is 7700 (+5.1 combined: +4.0 on 2 Nov, +1.6 on 3 Nov, −0.4 on 4 Nov) and the weak spot is 7600 (−19.2 combined: −16.5 on 2 Nov, −1.1 on 3 Nov, −1.6 on 4 Nov).

Expected move to 4 Nov: ±182.2 points, a box of 7,538.2 to 7,902.6. This is a rougher rule of thumb: the one-day figure scaled by √4, the 4 sessions from the 29 Oct close to the 4 Nov close, and it assumes constant volatility.

All expiries

Across all 12 pulled expiries (30 Oct to 20 Nov) the net is +48.0: steadying.

Net Drift

SPX customers are net buyers of puts this morning. In premium terms, calls stand at $582.07 K, puts at $2.17 M and the net at −$1.59 M.

Put premium held at a fairly high level from 5:40 to 7:45 ET, then dropped sharply to near zero around 8:00 ET. It reversed just as fast: from about 8:05 ET puts climbed back to their earlier highs and kept edging higher into 8:30 ET.

Calls stayed close to zero for most of the session, then jumped around 8:00 ET and held a modest positive level, easing slightly at the end.

The net stayed clearly negative through the early session. It briefly rose to near zero around 8:00 ET, when puts dropped, then slid back as puts returned and closed the window more negative, at −$1.59 M.

QuantData Net Drift (net customer flows, in premium) for SPX, covering options expiring within the next 90 days. Green is calls, red is puts and orange is the net. Captured 30 Oct, at the end of the 08:30 ET window. Source: QuantData Net Drift.

Sources: options positioning from OptionsDepth (snapshot 2026-10-30 08:30 ET, market-maker perspective; history at the same time of day on the previous 20 sessions and the 29 Oct 15:59 ET snapshot); prior close and VIX from Yahoo (^GSPC 29 Oct; ^VIX 1m bar 08:16 ET); indicated level from the Hyperliquid xyz:SP500 perpetual (1m candle 08:29 ET), a third-party futures contract and not the SPX index. The 20 Nov monthly expiry does not separate SPX from SPXW.

Educational only.

Copyright: Robert P. Balan (c)