November 3 Recap: QQQ GEX Flips to +$4.6B as Premium Falls 16%

QQQ net GEX moved from −3.45B on November 2 to +4.6B on November 3, taking the only Positive index row from DIA, while SPX stayed Negative at −36.56B. Single-name premium fell 16%, from $17.1B to $14.4B, and the tape stayed balanced.

$14.4B, 52% calls, 24% bullish versus 23% bearish. MU led at $1.4B Mixed; QQQ was the only Positive index row.

Open Daily Market Recap or the November 3 session. Sign-in and a paid entitlement may be required.

This edition's figures in 45 seconds. The numbers match the tables below.

What the recap printed

Test app, session 2026-11-03, KPI. Captured November 4, 2026 (New York time).

Sentiment bars: Neutral $7.7B, Bullish $3.4B, Bearish $3.3B.

Test app, session 2026-11-03, Step 1. Captured November 4, 2026 (New York time).

What changed since November 2

The call/put split did not move and the directional shares moved by one point, so the change in the tape was size. MU kept the top of the leaders table on $0.3B less premium and stayed Mixed, while its largest ticket shrank from a $28M call to a $5M put.

Leaders: where premium concentrated

Test app, session 2026-11-03, Step 2. Captured November 4, 2026 (New York time).

MU, AMD and SNDK again showed more put than call premium. AMD was again the only top-six name tagged Bullish, with $508M of its $924M in puts. AAPL, up from fifth to third, was the only one tagged Bearish, with $434M of its $734M in calls. TSLA fell from second at $1.2B to sixth at $607M.

Test app, session 2026-11-03, Bottom line / glance. Captured November 4, 2026 (New York time).

Exposure and volatility context

The glance lists INTC +0M shares-equiv. as largest Net DEX and RDDT 7% as largest Net DEI magnitude; Step 4 prints RDDT at 7.0%, with a Positive Net DEX sign. On November 2 the largest Net DEI was BRKB at 3.7%, also Positive.

Step 5's highest IV rank among active names is AAPL 83 / 100, with 31.8% 30-day implied volatility; IREN also printed 83. AAPL read 71 in the same step on November 2, and TradingFlow's AAPL volatility page for October 30 read IV30 27.4% and IV rank 58.6%. On November 2 the step led with APP at 84 / 100.

Index GEX: QQQ flips to +4.6B, the only Positive row

Test app, session 2026-11-03, Step 6 · T+1. Captured November 4, 2026 (New York time).

QQQ rose 8.05B, from −3.45 to +4.6, its first Positive row since October 27 (+1.5). SPX rose 8.20B, from −44.76 to −36.56, and stayed Negative. SPY (−6.25 to −1.47) and NDX (−3.59 to −1.08) also narrowed, while IWM deepened from −0.16 to −0.39. DIA went from +0.01 Positive to a Negative reading that rounds to 0.

Since October 30, SPX has gone −98.98, −44.76, −36.56 and QQQ −12.7, −3.45, +4.6.

Headline name: MU at $855

Test app, session 2026-11-03, Step 8. Captured November 4, 2026 (New York time).

Cards: last $855, premium $1.4B, 48% calls, 20% bullish, 85% average IV on traded contracts. On November 2 the cards read $833, $1.7B, 49% calls, 23% bullish, and 85%.

Test app, session 2026-11-03, Step 8 · prints. Captured November 4, 2026 (New York time).

The largest MU ticket was a $5M 1,000 put expiring 2028-01-21, tagged Bullish. Of the twelve largest tickets, eight were puts and four calls, against six and six on November 2, and ten of the twelve expire in 2027 or later. Three 1,000 puts for 2027-12-17 printed at 11:20–11:21, and three 950 calls for 2027-06-17 printed at 14:40–14:41.

Movers: ARRY +20.8%

Test app, session 2026-11-03, Step 7. Captured November 4, 2026 (New York time).

The largest gain was ARRY, +20.8% in the bottom line and in Step 7 (Up). November 2's was NWL +15.9%. The longest bar on the down side of Step 7's chart is LIFE.

What this session is evidence of

How to read these numbers

This edition reads TradingFlow's Daily Market Recap for November 3, 2026, captured on November 4 (New York time). Three runs between 11:42 and 11:51 AM New York time printed the same figures. It is a completed-session report, not a trade recommendation.

Two clocks apply. Premium, sentiment, and prints describe the session tape; GEX and IV are the recap's T+1 / prior-close snapshots, not a live intraday gamma map. Step 6 sums each index's near-dated chain, expiries out to seven days and strikes within 7% of spot, so it is not the all-expirations figure on a symbol's GEX page, and its window rolls forward every session. Neutral premium supplies no direction, and call share is option type, not bullish sentiment. Net DEI is a magnitude relative to typical activity; Net DEX is a separate signed classification, and a +0M reading rounds to zero. GEX is modeled chain structure under TradingFlow's dealer-sign convention, not observed dealer inventory, a support level, or the next session's direction. Ticket tags do not prove who bought or sold or whether a position opened, and intraday_pct is a first-to-last underlying-price proxy from the option tape, not a verified daily return.

A ticket's feed tag reads the quote side: Bullish is a call bought at the ask or a put sold at the bid, Bearish the reverse.

Reproduce the findings

1. Open the November 3 recap; confirm Nov 3, 2026 in the session KPI.
2. Open the November 2 recap beside it and compare the KPI strip, leaders, and all six index GEX rows.
3. Compare MU's headline cards and largest tickets on both days.
4. Read Steps 4–6 separately: exposure magnitude, volatility rank, and index structure.

TradingFlow App Home → Cookbooks → Daily Market Recap → select the completed session.

Related reading

• November 2 recap
• October 30 recap
• Daily Market Recap in Cookbooks
• Option flow · Gamma exposure · IV rank