πŸ“‹Morning Board 2026-08-28

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

SymbolPrev closeChangeVIX / VXN (pct)GEX ($B/1%)Expected range
QQQ$721.11+1.37%20.2 (20th pctile)+2.63B flip 713.41.03% (0.63–1.74)
SPY$771.10+0.66%14.5 (3rd pctile)+2.22B flip 768.80.66% (0.38–1.16)
QQQ RSI(2)91 extreme
QQQ vs 200-day+10.1%
QQQ GammaDealers long gamma (+$2.63B per 1% move), flip 713.4 sits 0.9% 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 14.51 3% pctile Β· Depressed (complacency)
13.5 ─ median 17.2 ─ 31.1
2026-08-27
VXN Β· QQQ 20.24 20% pctile Β· Depressed (complacency)
17.2 ─ median 23.3 ─ 33.5
2026-08-27
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.