Options Market Morning Report

A single-page daily snapshot of the options market: top dealer gamma exposure, biggest overnight GEX / regime-stress / IV / skew shifts, high-IV candidates, pre-earnings IV loading, unusual-activity standouts, and scheduled earnings for the next two weeks. Values refresh daily after the close; each section links to the corresponding screener for the full ranked list.

Dealer Gamma Exposure Leaders

Tickers with the largest absolute dealer gamma exposure. High GEX means dealer hedging flows can meaningfully amplify or dampen realized volatility around the current spot level. See the full ranked list at Gamma Exposure Leaders.

Biggest Overnight GEX Shifts

Tickers with the largest day-over-day change in net dealer gamma exposure. Big positive shifts flag dealer books moving longer gamma (vol-dampening); big negative shifts flag newly short-gamma environments where hedging flows can amplify moves. See Biggest GEX Change.

Biggest Overnight Regime Stress Change

Names with the largest day-over-day move in the 8-model regime stress score. Positive deltas signal stress loading (moving toward Elevated / Stress / Crisis regimes); negative deltas signal stress relief. Covers the ~124-symbol regime universe spanning single stocks, sector ETFs, and bond ETFs. See Biggest Regime Stress Change.

High Implied Volatility

Tickers with the highest ATM implied volatility on the most recent snapshot. Elevated IV favors premium-selling structures like iron condors, strangles, and credit spreads. See High IV Rank.

Biggest Overnight IV Shifts

Tickers with the largest one-session move in 30-day ATM implied volatility. Positive deltas usually reflect event-driven IV expansion ahead of earnings or macro catalysts; negative deltas capture IV crush and post-event premium compression. See Biggest IV Change.

Biggest Overnight Skew Change

Day-over-day shifts in 25-delta put-call skew. Steepening (positive delta) signals fresh crash-protection demand; flattening suggests complacency returning or forced put-seller covering. Change-based framing isolates new flow from structurally-high-skew names like index ETFs. See Biggest Skew Change.

Pre-Earnings IV Expansion

Names with earnings in the next 14 days AND rising event-week ATM IV. Matched-tenor pairing (7-day both sessions when available, otherwise 30-day both sessions). Only positive deltas shown; this page is specifically "IV is loading," not "IV is falling." See Pre-Earnings IV Expansion.

Unusual Activity

Tickers ranked by the breadth of hot contracts on their chain: number of individual strikes trading at vol/OI > 2 AND volume ≥ 500. Multiple strikes trading unusually hot is a proxy for fresh positioning and potential catalysts, not a directional signal on its own. See Unusual Options Activity.

Upcoming Earnings

Companies scheduled to report earnings in the next 14 days. Earnings weeks typically show elevated IV on the event expiration that collapses after the report (IV crush). See the Earnings Calendar for the full schedule; per-ticker pages link to realized close-to-close post-earnings move history.

All data is end-of-day and refreshes daily after market close. For full methodology and limitations, see Data Freshness & Limitations.

Dealer Gamma Exposure Leaders

TickerNet GEXSpot
META$1.76B$653.60
MSFT$1.39B$491.25
NVDA$1.29B$223.74
AAPL$952.1M$315.61
MU$678.8M$1029.67

High Implied Volatility

TickerATM IVSpot
ADT478.3%$7.06
TRMK466.3%$45.19
UDR452.9%$35.45
SIGI442.4%$90.18
FR434.9%$60.85

Unusual Options Activity

TickerHot ContractsPut/Call
META1280.53
TSLA970.62
AAPL960.56
MU930.69
AMD740.55

Biggest GEX Shifts (Overnight)

TickerPriorCurrentChange
SPX$8.56B−$16.60B−$25.15B
SPY−$6.30B−$9.83B−$3.53B
IWM−$3.00B−$4.95B−$1.96B
RUT−$2.02B−$3.54B−$1.53B
QQQ−$859.4M−$1.69B−$834.2M

Biggest IV Shifts (Overnight)

TickerPriorCurrentChange
UPXI469.7%26.9%-442.84%
BHC60.8%439.5%378.68%
LDI379.8%23.2%-356.62%
GOOS374.8%24.6%-350.15%
IQ25.3%207.3%182.03%

Biggest Regime Stress Change (Overnight)

TickerPriorCurrentChangeRegime
IWF1.300.13−1.18ELEVATED
XLB-0.220.70+0.92ELEVATED
BAC0.68-0.18−0.86NORMAL
CRM0.16-0.67−0.83NORMAL
PLD-0.600.20+0.80NORMAL

Biggest Skew Change (Overnight)

TickerPriorCurrentChange
CAPR-210.0%94.7%+304.76%
FSK159.0%-25.5%−184.47%
ZVRA-3.7%56.9%+60.63%
VIXM-3.7%43.4%+47.11%
XE-5.4%40.3%+45.71%

Pre-Earnings IV Expansion

TickerEarningsDTEPrior IVCurrent IV
PLAYSep 14, 20265137.0%155.6%
AEOSep 9, 20260111.7%120.9%
LPTHSep 10, 20261124.6%130.3%
AVAVSep 9, 20260107.3%112.5%
ORCLSep 10, 20261100.4%105.0%

Upcoming Earnings

TickerDateEPS Est.
ADBESep 10, 2026$6.08
AENTSep 10, 2026$0.02
ALOTSep 10, 2026$0.04
CMNDSep 10, 2026
CPRTSep 10, 2026$0.38