SPX levels for Friday, November 13

SPX levels for Friday, November 13: Flip Line 7,593.46 (as of 2026-11-13 08:15 ET); call wall 8,100 (as of 2026-11-13 08:15 ET); put wall 7,500 (as of 2026-11-13 08:15 ET); max pain 7,620 for the November 16, 2026 expiration (as of 2026-11-13 16:14 ET from open interest at the 2026-11-12 close); expected move ±81.1 points (±1.07%) to the 2026-11-16 close (as of 2026-11-13 16:14 ET).

Regime at spot, as of 2026-11-13 16:04 ET: Negative gamma.

SPX spot 7,561.67, as of 2026-11-13 16:04 ET.

What these levels are

Flip Line.

The index level where modeled dealer gamma changes sign. Below it the model reads negative gamma, above it positive gamma. It is computed from settled open interest each trading morning.

Call wall.

The strike above spot with the most call gamma in the model. It marks where the modeled call positioning is thickest.

Put wall.

The strike at or below spot with the most put gamma in the model. It marks where the modeled put positioning is thickest.

Max pain.

The strike where option holders in total would be owed the least at expiration, from open interest. It is a description of the chain, not a target.

Expected move.

One standard deviation that the options market prices to a stated close, from at-the-money implied volatility. It is risk-neutral and symmetric, and it is not a forecast.

What the dates mean.

Open interest settles once per trading day, so the walls and Flip Line are fixed for the session. Max pain and the expected move are re-read from the delayed option chain about every 5 minutes, and each line says when its own reading was taken.

Modeled option-book structure and options-implied ranges, dated per level. Not a recommendation. SquawkFlow does not trade these levels.

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