πŸ“‹Morning Board 2026-08-19

Pre-open snapshot: prior close, VIX percentile, RSI(2), dealer gamma, expected range.

SymbolPrev closeChangeVIX / VXN (pct)GEX ($B/1%)Expected range
QQQ$717.51-1.69%22.6 (41st pctile)-2.13B flip 721.21.28% (0.78–2.16)
SPY$767.45-0.68%15.8 (21st pctile)-3.77B flip 769.90.77% (0.45–1.36)
QQQ RSI(2)10 oversold
QQQ vs 200-day+10.1%
QQQ GammaDealers short gamma ($-2.13B per 1% move), flip 721.2 sits -0.7% above spot
How to read this Β· VIX

Οƒ Volatility Indices (VIX / VXN)

VIX = S&P 500 30-day implied volatility (maps to SPY); VXN = the same measure for the Nasdaq 100 (maps to QQQ). Percentile = share of the past year (252 trading days) that closed below the current value.
Index Current Percentile 1-year range As of
VIX Β· SPY 15.84 21% pctile Β· Near median
13.5 ─ median 17.2 ─ 31.1
2026-08-18
VXN Β· QQQ 22.56 41% pctile Β· Near median
17.2 ─ median 23.3 ─ 33.5
2026-08-18
CBOE official daily closes (VIX from 1990, VXN from 2009). These are closing values, not intraday β€” the morning brief uses the prior session's close and the evening review the current close, so the series stays consistent with history with no point-in-time bias.

Full report: Morning report Β· Evening report

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Research output, not investment advice.