9:45 AM Briefing: SPX Gaps Up, Testing 6750 Resistance Amid VIX Crush

PART 1: THE OPENING BELL DASHBOARD (9:45 AM ET)

PART 2: MARKET STRUCTURE & GEX

• Gamma Wall (Call Resistance): 6800 SPX. This is the massive strike where dealers are firmly short gamma. Above 6750, call selling dynamics begin to pin the market.
• Gamma Flip / Support: 6700 SPX. If early weakness materializes, 6700 offers structural dealer support.
• Dealer Positioning: Dealers remain long gamma near the spot price, creating a mean-reverting environment. We expect intraday ranges to be contained unless the 6700 support is cleanly broken with volume.

PART 3: TRADE IDEA: THE MORNING PLAYBOOK

Setup: Mean Reversion / Fade the Gap Based on the opening auction and first 15 minutes of flow, the market is opening into heavy dealer supply around 6750. VIX is crushing but nearing intraday support.

• Instrument: SPX 0-DTE Puts
• Entry Zone: 6750 - 6760 (Fade into the opening pop)
• Target: 6725 (VWAP reversion)
• Stop Loss: 6770 (Invalidation Level on sustained 10-min candle close)
• Risk/Reward: ~1:2.5
• Notes: Wait for the 10:00 AM candle close to confirm the failed breakout at 6750 before entering. Do not chase.

PART 4: 1DTE SPX OPTION RECOMMENDATIONS

Trade Idea: SPX 1DTE Iron Condor (6700/6800 Wings)

• Rationale: With the SPX opening near 6750, we are sitting right in the middle of the dominant Gamma Wall (6800) and the Gamma Flip (6700). Dealers will likely buffer moves toward either extreme. Selling premium in this range offers high probability yield while IV remains elevated above 20.
• Strikes: Sell 6800 Call / Buy 6825 Call & Sell 6700 Put / Buy 6675 Put.
• Risk Management: Size appropriately. Cut the untested side if spot breaches 6715 or 6785. Take profits at 50% max gain.

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