SPX Options Trade Hits BIG With 12:1 Reward to Risk Payoff
•_Get started with SpotGamma here: https://bit.ly/3zj11ZO_Where Options Flow The Markets Go_
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*How to Trade SPX with Gamma, Flow & Dealer Hedging*
Looking for high‑probability intraday SPX trades? This real‑world SPX setup delivered a 12:1 reward‑to‑risk return by combining TRACE heatmaps, real‑time options flow, and dealer hedging signals from SpotGamma.
In this case study, Doug Pless breaks down how positional analysis revealed a downside price magnet during OPEX — and how SpotGamma tools helped time entries, manage risk, and capture the move with confidence.
Trade Setup: Intraday SPX Options Trade
• Strategy: Intraday options (iron condor built from directional bias)
• Bias: Directional move in a mildly negative gamma environment
• Conditions: Low market stability, elevated event risk
• Tools Used: TRACE, HIRO, Key Gamma Levels
• Thesis: TRACE flagged 6770 as a high‑probability downside magnet with deteriorating stability
*Trading Tools in Action*
TRACE (S&P Heatmap)
• Stability Index at 31% signaled increased movement potential
• 6770 identified as a 99th percentile gamma draw
• Revealed fading positive gamma and expanding downside risk
HIRO (Options Flow)
• Early call buying failed → flow flipped bearish
• Call selling + put buying confirmed downside pressure
• Dealer hedging aligned with accelerating sell‑off
Key Gamma Levels
• 6770 acted as a price magnet
• 6765 added negative gamma acceleration
*Trade Execution & Results*
• Entry #1: Sold 6820/6825 call spread for $2.70 credit
• Adjustment: Sold 6770/6765 put spread for $2.15 credit
• Structure: Iron condor with defined risk
• Total Risk: $0.15 per contract
• Exit: ~1:00 PM as SPX broke below 6765
*Results*
• Reward/Risk Ratio: 12:1
• Profit: $1.80 on $0.15 risk
• Outcome: High‑confidence intraday SPX trade driven by gamma and flow alignment
*What You’ll Learn:*
✅ How TRACE identifies support, resistance, and volatility in real time
✅ Why gamma “magnets” pull price during OPEX
✅ How to use options flow to confirm dealer positioning
✅ How to structure intraday SPX trades with defined risk
Explore SpotGamma’s tools and trade with clarity — not guesswork.
Ready to trade with this level of insight and precision?
Start profiting with SpotGamma now → https://spotgamma.com/subscribe-to-spotgamma Receive SMS online on sms24.me
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