Public Kempax report

Daily premarket research and report · 2026-08-03

Kempax Research

Loop report · 2026-08-03

Premarket & Options Positioning Report — Monday, August 3, 2026

As of: 2026-08-03, 13:06 ET. Index prices are intraday partial candles; options open interest is an estimate across the three nearest weekly expirations Aug 10–12 and is not observed dealer positioning. Classification: Analysis only — not a trade instruction. Human approval required before any investment decision.

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Executive Summary

$SPY is trading at $756.07 + 1.2% on the day , $QQQ at $698.31 + 1.5% , and $IWM at $295.00 + 1.3% , extending the August-open rally into the afternoon on Mideast de-escalation hopes and a stronger-than-expected ISM manufacturing print PMI 55.6, highest since May 2022 . Breadth is uneven — $QQQ remains below its 20-day average — and the week is event-heavy: $NYSE:PLTR reports after tonight's close, $NASDAQ:AMD and SpaceX on Tuesday, $SNDK and $NASDAQ:WDC on Wednesday, and July nonfarm payrolls on Friday 1 7 .

Options positioning highlights open-interest-based gamma estimates :

$SPY — dominant call wall at $760. The largest net gamma concentration sits at the $760 strike 5,159 call contracts vs 52 puts, $113M net gamma exposure , roughly 0.5% above the current price. A dense call ladder from $750 to $757 net gamma of $24M–$43M per strike sits just below spot. Put-side support concentrates at $738 the lowest put-heavy wall and $746–$747.
$QQQ — call wall at $700, 0.2% above spot. The $700 strike 3,909 calls vs 147 puts, $37M net gamma coincides almost exactly with the 20-day average $699.8 — a technical positioning confluence. Secondary call accumulation at $690, $695, $705.
$IWM — wall at $295, essentially at the money. The $295 strike 6,181 calls vs 64 puts, $29M net gamma is the pin; heavy call open interest extends to $296 and $300. Downside is cushioned by a dense put block at $285–$290 1,500–2,950 puts per strike and a put wall at $280.

Net gamma across all tracked strikes is positive for all three $SPY +$507M, $QQQ +$158M, $IWM +$81M , consistent with a stabilizing, range-bound tape near current levels; a decisive close above the $760 $700 $295 walls would be the level where dealer-hedging flows can accelerate moves.

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1. Market Overview intraday, 13:06 ET

Metric $SPY $QQQ $IWM --- --- --- --- Latest partial candle $756.07 $698.31 $295.00 Prior close 7 31 $747.03 $687.99 $291.20 Day change +1.2% +1.5% +1.3% Change since 7 1 +1.38% −3.70% −1.44% RSI 14 52.9 41.2 50.8 vs SMA-10 SMA-20 above $742.70 above $745.93 above $687.97 below $699.79 above $292.72 above $293.79 Realized vol ann. 12.5% 23.5% 13.5% ATR 14 $8.75 $14.87 $4.14 Period max drawdown −3.4% −8.8% −3.6%

Evidence: live quantitative market data, daily window 2026-07-01 → 08-03, fetched 2026-08-03T17:06Z partial intraday candle for Aug 3 7 .

$SPY has reclaimed both its 10- and 20-day averages after breaking out of a tight range this morning; $QQQ recovered above its 10-day average but still trades below the 20-day — the tech-led advance is not yet confirmed; $IWM remains the most structurally intact index, above all major averages 7 .

2. Gamma Walls open-interest estimates, expirations Aug 10–12

Instrument Primary call wall Distance from spot Put wall Distance from spot Net gamma all strikes --- --- --- --- --- --- $SPY $760 $113M net gamma +0.5% $738 −$31M −2.4% +$507M $QQQ $700 $37M net gamma +0.2% $680 −$15M −2.6% +$158M $IWM $295 $29M net gamma 0.0% ATM $280 −$7M −5.1% +$81M

Notes: Gamma walls are the strikes with the largest net gamma exposure from call and put open interest; they mark levels where delta-hedging flows are concentrated and prices can be pinned or accelerate through. Distances computed vs the latest intraday quotes above. Figures are open-interest-derived estimates, not observed dealer positions 8 .

$SPY: The $760 wall dominates — more than double any other single strike's net gamma. With spot at $756, the wall is directly overhead; the 750–757 call block $24M–$43M net gamma per strike forms a step ladder into it. If $SPY closes above $760, hedging flows historically amplify follow-through; a failure leaves $750 and the $746–$747 zone as near support. The $738 put wall marks the deeper downside shelf.

$QQQ: The $700 wall sits 0.2% above spot and lands on the 20-day average — the most meaningful technical confluence on the board today. $QQQ's put structure is lighter $680 wall, −2.6% , so the downside is less defended than $IWM's; the put-heavy lower strikes $688, $690 sit 1–2% below spot.

$IWM: The $295 wall is a textbook at-the-money pin with a massive call block at $295–$296 $29M + $21M and a second at $300 $21M . The put shelf at $285–$290 absorbs downside pins 1.7–3.4% below spot . Net effect: $IWM's range is the most tightly bracketed of the three.

3. Options Ladder Summaries calls puts open interest, net gamma exposure, expirations Aug 10–12

3.1 $SPY spot $756.07

Strike Call OI Put OI Net gamma $M --- --- --- --- $746 1,294 560 +9.2 $747 623 281 +4.6 $748 926 236 +9.7 $749 1,054 73 +15.2 $750 2,616 525 +35.7 $751 570 84 +8.5 $752 996 76 +16.6 $753 1,313 104 +24.1 $754 1,736 110 +32.8 $755 2,329 269 +43.2 $756 1,229 26 +25.6 $757 1,990 53 +41.4 $758 1,088 35 +22.7 $759 1,165 3 +24.3 $760 5,159 52 +112.7 $761 1,056 11 +22.0 $762 568 46 +10.0 $763 577 1 +10.8 $764 386 7 +6.4 $765 848 0 +13.6 $766 982 2 +14.3

3.2 $QQQ spot $698.31

Strike Call OI Put OI Net gamma $M --- --- --- --- $688 325 376 −0.5 $689 273 217 +0.4 $690 1,438 535 +7.9 $691 241 132 +1.0 $692 129 80 +0.4 $693 218 24 +1.7 $694 237 31 +1.9 $695 1,285 163 +10.3 $696 236 109 +1.1 $697 705 267 +4.3 $698 647 6 +6.0 $699 847 15 +7.7 $700 3,909 147 +37.4 $701 236 9 +2.1 $702 187 3 +1.7 $703 188 6 +1.7 $704 175 3 +1.6 $705 933 127 +7.2 $706 189 4 +1.7 $707 454 0 +4.2 $708 135 28 +1.0

3.3 $IWM spot $295.00

Strike Call OI Put OI Net gamma $M --- --- --- --- $285 108 2,949 −4.9 $286 21 1,590 −3.1 $287 22 1,451 −3.2 $288 161 1,551 −3.5 $289 73 527 −1.3 $290 660 1,506 −2.6 $291 2,838 357 +9.4 $292 2,625 382 +8.9 $293 2,694 716 +8.4 $294 745 207 +2.5 $295 6,181 64 +29.1 $296 4,321 28 +21.2 $297 642 54 +3.2 $298 1,197 3 +6.6 $299 344 33 +1.6 $300 4,331 4 +21.1 $301 208 9 +0.8 $302 428 0 +1.5 $303 51 0 +0.1 $304 80 0 +0.2

Evidence: options open interest and gamma exposure by strike, three expirations 2026-08-10 11 12 aggregated, fetched 2026-08-03T17:06Z 8 . Net gamma = call gamma exposure + put gamma exposure; positive values reflect net long-gamma call-dominant strikes.

4. Catalysts & Notable Movers from today's session coverage

Mideast de-escalation hopes — Sunday reports that Strait of Hormuz talks with Iran would resume Monday timeline later contradicted sent crude down more than 5%; headlines remain binary risk for energy and the inflation path 1 .
ISM Manufacturing PMI 55.6 July — +2.3 pts, highest since May 2022, released 10:00 ET; new orders, production, and employment expanding, with prices rising 2 3 .
$NASDAQ:AMZN +4.8% — crossed $3 trillion in market value; $NYSE:BMY up on a report of preliminary merger talks with AstraZeneca potential $400B drugmaker 1 .
$NASDAQ:MU −3.4% — on a report that China's CXMT is weighing a second memory-chip plant; $SOX −2.8% on the day 1 .
$NYSE:PLTR reports after tonight's close — previews frame the bar as a guidance raise; $NASDAQ:AMD and SpaceX report Tuesday, $SNDK $NASDAQ:WDC Wednesday 4 6 .
Friday 08:30 ET: July nonfarm payrolls — the week's dominant macro release; the weak June print 57k kept a September cut priced 1 .

5. What to Watch

$SPY vs the $760 wall — spot is 0.5% below the dominant call wall; the intraday high so far is $756.62. A close through $760 is the level where hedging flows can extend the breakout; failure keeps the tape pinned in the $750–$757 ladder.
$QQQ reclaim of $700 — the wall coincides with the 20-day average; a sustained move above would confirm broadening tech participation after $QQQ's bearish structure all month.
$IWM pin at $295 — the largest single-strike call block among the three instruments; watch for range resolution toward $300 secondary wall .
Tonight: $NYSE:PLTR earnings — the AI-demand test; guidance raise expected to be the market's bar.
Friday: July payrolls — macro pivot; strong print would pressure September cut pricing.

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⚠️ This report is analysis only — not a trade instruction. Gamma figures are open-interest-based estimates, not observed dealer positioning, and are not financial advice. All investment decisions require human portfolio manager approval.

Sources

Reuters, "Wall St starts the month strong as Mideast deal hopes rise" — https: www.reuters.com business wall-st-futures-edge-up-mideast-deal-hopes-healthcare-focus-2026-08-03
ISM Manufacturing PMI July 2026 release via PR Newswire — https: www.prnewswire.com news-releases manufacturing-pmi-at-55-6-july-2026-ism-manufacturing-pmi-report-302840669.html
Forex Factory, "US Manufacturing PMI at 55.6 July 2026" — https: www.forexfactory.com news 1411439-us-manufacturing-pmi-at-556-july-2026-ism
MarketBeat earnings calendar — https: www.marketbeat.com earnings reports 2026-8-3-palantir-technologies-inc-stock
Reuters legal item, AstraZeneca–Bristol Myers Squibb talks — https: www.reuters.com legal litigation astrazeneca-holds-talks-with-bristol-myers-squibb-potential-megadeal-ft-reports-2026-08-02
Tech Times, PLTR earnings preview — https: www.techtimes.com articles 322769 20260803 palantir-earnings-preview-beating-estimates-wont-lift-stock-without-guidance-raise.htm
Live quantitative market data $SPY $QQQ $IWM, daily window 2026-07-01 → 08-03 , fetched 2026-08-03T17:06Z — intraday partial candles as of 13:06 ET
Options open interest gamma exposure by strike $SPY $QQQ $IWM, expirations 2026-08-10, 2026-08-11, 2026-08-12 , fetched 2026-08-03T17:06Z — open-interest estimates, not observed dealer positioning
Yahoo Finance live markets coverage, Monday Aug 3 tape themes: big tech, oil — https: finance.yahoo.com markets live stock-market-today-monday-august-3-dow-sp-500-nasdaq-big-tech-oil-092516872.html

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Report details

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Field Value --- --- Loop Daily premarket research and report loop-aaca4a8f-86da-4e19-9ef8-be8c7e4f6b68 Run looprun-3fedddf0-6122-4ed1-926f-961234fb84c1 Session Research premarket conditions incl. gamma walls and option ladder loopsession-3e656d7c-2735-4b3d-a16b-06de07e1f4f1 Owner Research Lead assignment pending Workspace ws-01 Status Research complete — awaiting human review and evaluation Data window Market data 2026-07-01 → 08-03 daily ; options open interest expirations 2026-08-10 11 12; fetched 2026-08-03 17:06Z Publication Pending service-authored publisher session after evaluation

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