Weekly GEX levels of QQQ

began the week in positive territory at Monday’s open, with the current gamma profile projecting positive momentum through Friday as the price is positioned above the HVL level (496). Notably, below this HVL level is a substantial "vacuum" area, so if the High Volatility Level (496) fails to hold, we could quickly see a drop to 485, where Gamma Walls provide PUT resistance at 485, 482.5, and 480.

Key levels to note are:

Highest Call Wall / Call Resistance (500): This level, with the highest positive Net GEX value, may act as a significant resistance. Price momentum may slow upon reaching this level, as positive gamma stabilizes the movement. However, if it breaks through, 505 and then 510 could come into play.

2nd Highest Call Wall (510) and 3rd Highest Call Wall (505): These additional resistance levels could present further obstacles as QQQ’s price moves up, both showing high positive gamma activity that may limit upward momentum.

PUT Gamma Wall / Put Support (480): This is the most important support level, where negative gamma presence may buffer price drops. However, if this level is breached downward, declines could accelerate.

2nd Put Wall (485) and 3rd Put Wall (482): These levels may serve as additional support points, providing buffers in case of further price declines.

TanukiTrade

Boost up your charts with Options PRO!

REAL Options metrics for over 165+ liquid US symbols:
✔ 𝗔𝘂𝘁𝗼-𝗨𝗽𝗱𝗮𝘁𝗶𝗻𝗴 𝗚𝗘𝗫 𝗹𝗲𝘃𝗲𝗹𝘀
✔ IVRank ✔ CALL/PUT skew ✔ Volatility Skew ✔ Delta curves

👉 7-day TRIAL 🌐 TanukiTrade.com

Also on:

Related publications

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.

TanukiTrade