S&P 500 Stock Market Gamma Trading Levels Based on Options Open Interest
Start every trading day with an edge. SpotGamma’s Opening Setup™ distills market sentiment, unusual trades and four actionable setups into a five-minute read delivered to your inbox.
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Opening Setup answers three key questions before trading begins.
Get the Market Sentiment
A single 0–100 sentiment score from bullish to bearish, built from three proprietary signals.
See the Hidden Setups
Screened trade profiles surfacing the most noteworthy names and positions.
Identify the Trades that Matter
High conviction and unusual trades from yesterday that uncover institutional interest.
Leaning higher
A name screens as supported, where call demand may be elevated.
Under Pressure
A name screens as relatively weak, with heightened put demand.
Vol screens expensive
Options appear expensive versus their own history — where selling premium may be preferred.
Vol screens inexpensive
Options screening inexpensive versus their own history — with opportunities to buy options.
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Overnight, SpotGamma’s proprietary positional analysis runs against options trades for thousands of US stocks, ETFs, and indices — helping you start the day already ahead.
1
We scan the whole session
Every U.S. options trade from the prior day, across thousands of tickers — filtering out the noise to surface the most important data.
2
We surface insights
We layer on volatility statistics and historical positioning data — generating actionable takeaways to support your trading.
3
You just need five minutes
As a focused briefing, this report takes minimal time to share the market's lean, see the hidden setups, and reveal the trades that matter — the whole picture, before you place a trade.
Sample report shown for illustration. Tickers, scores, and figures are examples — not current recommendations.
Instead of watching a move and wondering how you could have seen it, start your day with an actionable framework in five minutes.
Discover market sentiment — bullish or bearish
See whether the options market is positioned for a rally or a drop, before you place a trade.
Spot what the market may be mispricing
See which names screen statistically expensive or inexpensive versus their own history — before the crowd catches on.
Unveil the highest conviction trades
We filter hundreds of thousands of trades down to the most noteworthy positions — eliminating distracting data points.
Get market sentiment, the biggest trades and smart trade setups in just five minutes — free for one week.
Opening Setup is not a data dump — each part of the report answers a specific question you have before the open. Each data point explains why it matters to support your trading.

The market's sentiment, scored 0–100
The SG Flow Signal compresses three proprietary signals into one number — bearish to bullish. On days the flow stays bullish while price drops, it flags a DIP WATCH.
Why it matters: This is your regime check before you place a trade — lean into setups when it's high, size down or hedge when it's low.
Four screened setup profiles
Bullish, bearish, short-vol and long-vol cards surface the names where options pricing is most stretched, each matched to the kind of structure that fits.
Why it matters: This is your shortlist of statistical extremes, so you're not screening thousands of tickers yourself.


The biggest conviction trades
The biggest directional bets of the day — surfaced from SpotGamma’s proprietary analysis on open-interest changes, tagged by what makes each trade notable: earnings, divergence, high skew, momentum.
Why it matters: See what conviction money is actually doing, and get a sentiment read on the names you already hold.
The “am I overpaying?” volatility scanner
The ten most active names with a plain-English read on whether implied volatility is high or low versus their own history.
Why it matters: The same trade is a very different bet if the vol is expensive — this tells you which side of premium to be on.


What's priced into earnings
For names reporting soon, see the implied move, the last three actual post-earnings reactions, and how the expected move compares with history — plus an AI-driven trade thesis for each.
Why it matters: The entire earnings-trading game in one line.
Sample report shown for illustration. Tickers, scores, and figures are examples — not current recommendations.
Most options data is built on guesswork. Opening Setup is built on a proprietary model using years of options positioning, revealing detailed insight into the trades taking place each day. Instead of watching price and wondering what could happen, you see the positioning driving it with data.

Brent Kochuba
Founder, SpotGamma
Brent spent years on institutional trading desks — at investment banks, market makers, and hedge funds — learning how options actually drive stocks. In 2020 he founded SpotGamma to put that same edge in every trader's hands, and his analysis is now regularly featured in The Wall Street Journal, Bloomberg, CNBC, and Reuters.