πŸ“‹Morning Board 2026-08-27

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

SymbolPrev closeChangeVIX / VXN (pct)GEX ($B/1%)Expected range
QQQ$711.37+0.09%21.4 (31st pctile)+1.69B flip 710.71.08% (0.66–1.82)
SPY$766.08+0.02%15.2 (11th pctile)+1.67B flip 765.80.69% (0.40–1.20)
QQQ RSI(2)58 neutral
QQQ vs 200-day+8.8%
QQQ GammaDealers long gamma (+$1.69B per 1% move), flip 710.7 sits 1% below 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 15.21 11% pctile Β· Depressed (complacency)
13.5 ─ median 17.2 ─ 31.1
2026-08-26
VXN Β· QQQ 21.42 31% pctile Β· Near median
17.2 ─ median 23.3 ─ 33.5
2026-08-26
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.