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MARKET SAVANT

PRE-MARKET BRIEFING · 2026-07-20 · context & synthesis, not a signal

MIXED / NEUTRAL
MIXED REGIMES · no scheduled index catalyst
0/5 boards CHOP · 0/5 trending
The Setup
CRITICAL DATA CAVEAT: price bars for every instrument are stale — NQ as-of 2026-06-04, ES/YM/RTY as-of 2026-03-26, GC as-of 2026-04-09, all against a 2026-07-20 briefing. Levels are suppressed across ES, NQ, YM, RTY, and GC; do not read structure or conditional levels off them, and treat any prior number as non-actionable until fresh bars refresh. Because no current, trustworthy price structure exists, there is no level map to frame acceptance, rejection, or rangebound conditions this session — that is the setup: a map-reading blackout on the instruments themselves. The tradeable context lives in the calendar rather than the chart: earnings from Google, Tesla, AMD, and the Micron automotive headlines as single-name catalysts, the Iran geopolitical headline as a macro-risk input, and the flag pair of a positive 2s10s with a loose NFCI as the financial-conditions backdrop. Frame the day around those events and around waiting for refreshed price data before any level-based read is restored.
NQ —
NQ chart
OPTIONS / POSITIONING ▸
NQ gamma profile
Exp. move (QQQ)± 9.615 · 1.38%
Exp. move 1w± 22.9 · 3.29%
Gamma flip505.197
Net GEX (est.)$736m · net long gamma (est.)
Call gamma wall700
Put gamma wall691
Max pain711
P/C (OI)1.768
P/C (vol)0.9049
Heaviest call OI725 · 730 · 740 · 715
Heaviest put OI680 · 691 · 700 · 555
Retail GEX estimate from QQQ ETF options as a proxy for NQ; dealer short-call/long-put sign assumption; QQQ ≠ index ≠ future — positioning map, not a measured dealer book.
ES —
ES chart
OPTIONS / POSITIONING ▸
ES gamma profile
Exp. move (SPY)± 5.655 · 0.76%
Exp. move 1w± 13.03 · 1.75%
Gamma flip625.309
Net GEX (est.)$1.88bn · net long gamma (est.)
Call gamma wall745
Put gamma wall745
Max pain752
P/C (OI)1.088
P/C (vol)1.1978
Heaviest call OI760 · 755 · 800 · 765
Heaviest put OI736 · 735 · 750 · 745
Retail GEX estimate from SPY ETF options as a proxy for ES; dealer short-call/long-put sign assumption; SPY ≠ index ≠ future — positioning map, not a measured dealer book.
YM —
YM chart
OPTIONS / POSITIONING ▸
YM gamma profile
Exp. move (DIA)± 7.5 · 1.44%
Exp. move 1w± 11.1 · 2.13%
Net GEX (est.)$19m · net long gamma (est.)
Call gamma wall526
Put gamma wall520
Max pain523
P/C (OI)0.9892
P/C (vol)2.304
Heaviest call OI540 · 538 · 550 · 545
Heaviest put OI490 · 460 · 485 · 520
Retail GEX estimate from DIA ETF options as a proxy for YM; dealer short-call/long-put sign assumption; DIA ≠ index ≠ future — positioning map, not a measured dealer book.
RTY —
RTY chart
OPTIONS / POSITIONING ▸
RTY gamma profile
Exp. move (IWM)± 3.02 · 1.03%
Exp. move 1w± 6.69 · 2.28%
Gamma flip190
Net GEX (est.)$56m · net long gamma (est.)
Call gamma wall295
Put gamma wall295
Max pain295
P/C (OI)1.6812
P/C (vol)1.3926
Heaviest call OI295 · 299 · 300 · 301
Heaviest put OI295 · 290 · 286 · 292
Retail GEX estimate from IWM ETF options as a proxy for RTY; dealer short-call/long-put sign assumption; IWM ≠ index ≠ future — positioning map, not a measured dealer book.
GC —
GC chart
OPTIONS / POSITIONING ▸
GC gamma profile
Exp. move (GLD)± 3.87 · 1.05%
Exp. move 1w± 9.575 · 2.60%
Gamma flip320.046
Net GEX (est.)$3m · net long gamma (est.)
Call gamma wall370
Put gamma wall365
Max pain369
P/C (OI)1.6487
P/C (vol)0.518
Heaviest call OI380 · 370 · 375 · 373
Heaviest put OI350 · 358 · 365 · 360
Retail GEX estimate from GLD ETF options as a proxy for GC; dealer short-call/long-put sign assumption; GLD ≠ index ≠ future — positioning map, not a measured dealer book.

Congressional Trading

421 disclosures · 50d
STOCK Act disclosures · House, Senate as of 2026-07-20 · last 50 days
Net flow (est.) -$3.64M
net selling (est.)
Purchases 228
$3.87M est.
Sales 188
$7.51M est.
Index-relevant net -$405K
8 buys · 16 sells

Top tickers by disclosures

HUBB 10 filings · 10B/0S $87K
AAPL 6 filings · 2B/4S -$65K
LPLA 6 filings · 6B/0S $48K
NVDA 5 filings · 1B/4S -$383K
BEP 5 filings · 5B/0S $65K
BIIB 5 filings · 4B/1S $59K
ENTG 5 filings · 5B/0S $40K
TDG 5 filings · 5B/0S $40K

Recent notable disclosures

Sheldon Whitehouse · SALE NVDA
$100,001 - $250,000 · Senate · disc. 2026-06-02
Sheldon Whitehouse · SALE NVDA
$100,001 - $250,000 · Senate · disc. 2026-06-02
Tim Moore · PURCHASE T
$50,001 - $100,000 · House · disc. 2026-06-04
Daniel Meuser · PURCHASE SPCX
$15,001 - $50,000 · House · disc. 2026-06-16
Thomas H Tuberville · SALE AWK
$15,001 - $50,000 · Senate · disc. 2026-07-16
Thomas H Tuberville · SALE CSX
$15,001 - $50,000 · Senate · disc. 2026-07-16
Thomas H Tuberville · SALE DUK
$15,001 - $50,000 · Senate · disc. 2026-07-16
Thomas H Tuberville · SALE LMT
$15,001 - $50,000 · Senate · disc. 2026-07-16
Thomas H Tuberville · SALE MA
$15,001 - $50,000 · Senate · disc. 2026-07-16
Thomas H Tuberville · SALE NEE
$15,001 - $50,000 · Senate · disc. 2026-07-16
Parsed STOCK Act disclosures (House + Senate), House, Senate chamber(s) with data in the last 50d. Disclosures LAG the actual trade by up to ~45 days (reporting window) — this is a map of what was FILED, not live positioning. Amount ranges are DISCLOSURE BUCKETS; all notional figures are midpoint ESTIMATES, not exact dollars. Descriptive only — no directional inference.

Catalyst Timeline

0 windows
(nothing scheduled)

Material Filings

  • GOOGL: 1 Form-4 insider filing(s)

Overnight Digest

  • Dow Jones Futures: Iran Attack Kills Two U.S. Troops; Google, Tesla, AMD Ahead [Yahoo]
  • Stock Market Week Ahead: Navigating Uncertainty [Yahoo]
  • Bank of America revamps Tesla forecast before earnings [Yahoo]
  • Micron Is Signing Deals in the Automotive Space. What That Means for MU Stock Here. [Yahoo]
  • Best CD rates today, Saturday, July 18, 2026: Best account provides 4.10% APY [Yahoo]

Sentiment Read

The tape reads as a mix of macro caution and single-name focus. Geopolitical stress carries through the headlines with an Iran attack reported to have killed two U.S. troops, sitting alongside a week-ahead framing built explicitly around uncertainty. Against that, the earnings lens is front and center — Google, Tesla, AMD flagged ahead, a Bank of America Tesla forecast revamp, and Micron signing automotive-space deals — so the mood is event-driven rather than trend-driven. Rates context is constructive on the plumbing side: the 2s10s spread is positive and the NFCI reads loose, with CD yields quoted at 4.1% APY as a backdrop for cash. A GOOGL Form-4 insider filing is on the board as a single-name item to note, not to act on. Net, the read is watchful and headline-sensitive into a heavy earnings and geopolitical calendar.
Data quality notes