SPX: the Hidden Boss of the Market ๐ง
Most traders watch ES, SPY, NQ or QQQ. But the real heavyweight is SPX options. The amount of option flow happens every comes from SPX. Why SPX Matters: - Biggest option flow - Market makers must hedge by buying/selling ES futures, and SPY - Because of 0DTE is daily, gamma and theta matter every single session - VIX comes from SPX options - Spillover effect: Moves in SPX often show up in SPY, QQQ, and IWM What do (simple daily routine) 1. Open SPX in Gextron (search SPXW) 2. Market key levels on SPX: - Support & resistance 3. Find PTrans & Ntrans 4. Set price target ranges 5. Watch VIX 6. Keep an eye on time on open, midday, final hour