Levels · 2026 · September · 22
NQ and gold GEX levels for September 22, 2026
The option-positioning levels that were on the desk before the New York open on , for Nasdaq-100 and gold futures, kept exactly as they were computed.
01 / The pre-open run
What the chain said before the open
Read at 08:00 New York time, before the cash open. The fourth column is the part no page about the current session can carry: what each level did against the previous session in the archive.
Nasdaq-100 futures · NQ · one tick = 0.25 points per tick
| Level | Price | Distance from the contract | Change from the previous archived session |
|---|---|---|---|
| Contract at the run | 30,788.00NQ index points | —this is the reference price | +541.00index points since the previous archived run |
| Call wall | 31,144.00NQ index points | +356.00index points · 1,424 ticks · 0.25 points per tick | +840.00index points · 3,360 ticks |
| Gamma flip | 30,468.00NQ index points | −320.00index points · 1,280 ticks · 0.25 points per tick | +354.00index points · 1,416 ticks |
| Put wall | 29,067.00NQ index points | −1,721.00index points · 6,884 ticks · 0.25 points per tick | −396.00index points · 1,584 ticks |
| Peak gamma strike | 31,144.00NQ index points | +356.00index points · 1,424 ticks · 0.25 points per tick | +1,681.00index points · 6,724 ticks |
| Max pain | 29,815.00NQ index points | −973.00index points · 3,892 ticks · 0.25 points per tick | −69.00index points · 276 ticks |
| Regime | Positive gammastate of dealer hedging, not a direction | —a state, not a distance | Negative gamma → Positive gammathe regime changed |
Derived from listed QQQ option positioning · all levels within the plausible band
Gold futures · GC · one tick = 0.10 dollars per tick
| Level | Price | Distance from the contract | Change from the previous archived session |
|---|---|---|---|
| Contract at the run | 4,358.00US dollars per ounce | —this is the reference price | −46.00dollars per ounce since the previous archived run |
| Call wall | 4,972.00US dollars per ounce | +614.00dollars per ounce · 6,140 ticks · 0.10 dollars per tick | +20.00dollars per ounce · 200 ticks |
| Gamma flip | 4,304.00US dollars per ounce | −54.00dollars per ounce · 540 ticks · 0.10 dollars per tick | +75.00dollars per ounce · 750 ticks |
| Put wall | 4,309.00US dollars per ounce | −49.00dollars per ounce · 490 ticks · 0.10 dollars per tick | +623.00dollars per ounce · 6,230 ticks |
| Peak gamma strike | 4,972.00US dollars per ounce | +614.00dollars per ounce · 6,140 ticks · 0.10 dollars per tick | +20.00dollars per ounce · 200 ticks |
| Max pain | 4,420.00US dollars per ounce | +62.00dollars per ounce · 620 ticks · 0.10 dollars per tick | +18.00dollars per ounce · 180 ticks |
| Regime | Positive gammastate of dealer hedging, not a direction | —a state, not a distance | Unchangedsame as the previous archived session |
Derived from listed GLD option positioning · all levels within the plausible band
02 / Later runs
The same session, read again at 11:00 and 14:00
Positioning moves during a session; these are the later reads of the same chain
| Contract and run | Gamma flip | Call wall | Put wall |
|---|---|---|---|
| NQ · 11:00 ET | 30,481.00NQ index points | 31,107.00NQ index points | 29,033.00NQ index points |
| NQ · 14:00 ET | 30,545.00NQ index points | 31,142.00NQ index points | 29,066.00NQ index points |
| GC · 11:00 ET | 4,267.00US dollars per ounce | 4,948.00US dollars per ounce | 4,288.00US dollars per ounce |
| GC · 14:00 ET | 4,273.00US dollars per ounce | 4,955.00US dollars per ounce | 4,295.00US dollars per ounce |
Three runs, three timestamps taken from the data files themselves. None of them was recorded while the session was open to the reader.
03 / The zone
What was on the chart, and what it did
These are the supply and demand zones the indicator had drawn on the Nasdaq-100 chart that session, with the grade each one carried when the chart was read. The grade is decided before price arrives, which is the only order in which it means anything; what the grade describes, and what it cannot, is on the Zone Score page. Near and far edge are stated against the contract price below, which is the reading that placed each zone above or below it.
- The contract when these zones were placed
- 30,945.25 NQ index points, read at 11:00 Eastern.
- The zone the contract was trading inside
- 30,922.00 to 30,975.50 NQ index points. Graded 0.5 out of 7. The contract was inside it when the zone was read, so neither edge was the one facing price.
- The nearest demand below the contract
- near edge 30,436.75, far edge 30,397.00 NQ index points. Graded 7 out of 7.
What each zone did in the sessions that followed, read on 15-minute bars
| Session | Zone | What happened |
|---|---|---|
| the demand below | not reached: no wick reached the near edge | |
| the demand below | broke through: a bar closed beyond the far edge at 05:30, at 30,377.50 NQ index points | |
| the demand below | not reached: no wick reached the near edge | |
| the demand below | held: the near edge was touched and no bar closed beyond the far edge | |
| the demand below | held: the near edge was touched and no bar closed beyond the far edge | |
| the demand below | not reached: no wick reached the near edge | |
| the demand below | not reached: no wick reached the near edge |
A touch is a wick, a break is a close: a bar that pokes through the far edge decides nothing, a bar that closes beyond it decides everything. Lines are added as the sessions happen and are never rewritten.
04 / The episode
What was said that morning
No episode was recorded for this session. The episodes that do exist are on the market prep page.
05 / Provenance
Where these numbers came from
Every level on this page is a strike of a listed option chain, converted to the futures contract with the ratio between the two at the moment of the run. The mechanism, and what it cannot do, is on the page that explains these levels. What the archive holds, which sessions are missing from it and why, is on the record. If you want the method the zones come from, it is the seven-module course.
- Nasdaq-100 futures
- ratio 41.525 NQ index points per 1.00 US dollar of QQQ; QQQ at 741.43 US dollars; 1.38 puts per call; net gamma exposure 4.50B.
- Gold futures
- ratio 11.049 US dollars per ounce per 1.00 US dollar of GLD; GLD at 394.42 US dollars; 0.56 puts per call; net gamma exposure 514.16M.
- Archived from
- The run of , kept as computed and not revised since.
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