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ES dealer levels & regime call — June 23, 2026

The morning call was expansion and the session realized expansion — graded HIT against realized RTH volatility versus the 20-day median. ES ran a 69.5-point range and closed higher, touching 1 of 4 published dealer levels.

EXPANSIONMorning call
EXPANSIONRealized
HITResult
NEUTRAL GAMMADealer gamma
+0.76BNet GEX
69.5 ptsRTH range
7,419.5 → 7,433.75Open → Close
7376741674567495Put WallGamma Flip09:3011:0712:4414:2115:58

The morning dealer levels, graded

Published with the morning roadmap before the open; "touched" means the session traded at the level.

LevelPriceTypeSession
Call Wall7,541.1supply / call walluntouched
Put Wall7,416.1demand / put walltouched
Gamma Flip7,384.6gamma flipuntouched
Max Pain7,541.1max pain / settlementuntouched

Grading rule: realized RTH volatility vs. the 20-day median — expansion if it exceeds, compression otherwise. Same rule every day, committed in advance (methodology). The running record is on the scorecard — this page graded HIT.

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Research and decision support, not execution advice or a trade recommendation. Futures and options involve substantial risk. Historical data shown for research purposes.