November 6 Recap: SPY Touches 742.20, Then Closes $0.70 Above Its Low

SPY reached 742.20 on November 6 and closed at 735.30, $0.70 above its low, giving back about 91% of the day's range. SPX gave back about 90%. The gap itself held: SPX, SPY, QQQ, NVDA, AMD and MU all stayed above Thursday's close all session. Single-name premium fell by about half, from $44.1B to $21.3B, and all six index rows stayed Negative: SPX was −57.04B in the recap's near-dated table and −$83.1B across all expirations.

$21.3B, 46% calls, 23% bullish versus 22% bearish. MU led at $3.4B Bullish; no index row turned Positive.

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

Did Friday's bounce hold?

Pre-market notes split. One read the positioning as stabilising after Thursday's fall, others warned that a rebound with no follow-through could hurt more than the fall, and chips were marked sharply higher before the open. Here is Thursday's close against Friday's daily bar:

Test app, Symbols · SPY · Overview, session 2026-11-06. Captured November 7, 2026 (New York time).

Test app, Symbols · QQQ · Overview, session 2026-11-06. Captured November 7, 2026 (New York time).

Partly supported. The gap held: each of the six stayed above Thursday's close all session, so none made a new low. The rally did not: SPX, SPY, QQQ and NVDA each gave back at least 80% of the day's range, and SPX, QQQ, NVDA and MU closed below their opens, by 0.80, $2.30, $4.50 and $18.30. SPY closed $0.50 above its open. AMD held up best, closing $4.60 above its open and giving back 41%. The day was also far smaller than Thursday: SPX's range was 1.01% of the prior close and SPY's 1.04%, against 4.30% and 4.34%. Clock: the session's daily bars, which cannot say when the high printed, so they cannot test the first half hour.

Did SPX, SPY and QQQ stay inside what options priced?

Pre-market notes put SPX's move near ±87 points and SPY's near ±9, and a note after the morning's jobs report put SPX near ±72. TradingFlow stores each evening's closing chain, so the test here is Thursday's chain, each name's November 6 expiry, against Friday's bar:

Test app, Cookbooks · Expected Move · SPY, session 2026-11-05. Captured November 7, 2026 (New York time); the Ran stamp is the capture machine's clock.

Test app, Cookbooks · Expected Move · AMD, session 2026-11-05. Captured November 7, 2026 (New York time); the Ran stamp is the capture machine's clock.

Supported for SPX, SPY and QQQ, which spent the whole day inside the range priced on Thursday's chain, one day after closing about 4.5, 5.3 and 4.2 times their priced move away. NVDA and MU went over the top and closed back inside. AMD was the exception: it closed $14.88 over a range it had opened above, the session after it closed $49.46 under Wednesday's two-day range. The morning figures themselves are Can't tell from TradingFlow: half of SPX's priced range on Thursday's chain is 112.52 points, against the notes' roughly 87 and 72, but those were read on Friday morning and TradingFlow keeps no intraday chain to compare. SPX's 7,444.20 high was close to the top of the first note's range, near 7,441, and 22.05 under the top of the range priced on Thursday's chain. Clock: Thursday's closing chain and the session's daily bars.

Did SPY get back to 740, and did SPX and QQQ hold their levels?

Notes overnight and in the first hour said SPY could get back to 740 even with negative GEX there, put SPY's flip about 28 points above spot and QQQ's about 38, and marked SPX with a floor at 7,400 and a cap at 7,500, and QQQ with a floor at 650 and a cap at 660. The first frame below is the structure the session opened with; the second is the SPX day against the structure rebuilt that evening.

Test app, Symbols · SPY · GEX, session 2026-11-05. Captured November 7, 2026 (New York time).

Test app, Symbols · SPXW · Overview, session 2026-11-06. Captured November 7, 2026 (New York time).

Partly supported. SPY got there: its high was $2.20 over 740, but it closed $4.70 under, and a daily bar cannot say how long it stayed above. SPX's 7,400 floor did not hold, with a low of 7,369.60 and a close 23.10 under it, and its high stopped 55.80 short of 7,500. QQQ's floor held, with a low $4.00 above 650, and its high went $4.50 over 660 before it closed back inside at 656.10. None of the three got back to its all-expirations flip. Those are the notes' levels, not TradingFlow's walls: Thursday's structure put the walls lower, at 730, 7,350 and 645, and all three stayed above them.

The overnight distances are close to TradingFlow's all-expirations scope for SPY and narrower than it for QQQ: Thursday's close sat $30.25 under SPY's flip and $50.61 under QQQ's, against about 28 and about 38. Notes that named a flip for Friday's expiry alone are Can't tell from TradingFlow: on Thursday's build, Today · 0DTE is the November 5 expiry, which had just expired, and the app prints no flip for the November 6 row. The stabilising read gets no help from these frames, since both scopes here read Negative, yet the day's range was about a quarter of Thursday's. GEX describes structure, not the size of the next day.

Test app, Symbols · SPY · GEX, session 2026-11-06. Captured November 7, 2026 (New York time).

The evening rebuild went both ways. SPY's flip fell $8.99 and QQQ's $15.47, and their net GEX narrowed, while SPX's flip rose 3.05 and its net GEX widened. SPY's and SPX's new walls sit on either side of the close, and each put wall is also the strike the app marks as the 0DTE top. On that build, 20.0% of SPY's all-expirations gross GEX and 28.5% of SPX's sit in the November 6 expiry, which expired at that close, so those walls say little about Monday. They were built after the session, so they say nothing about what held either. Clock: closes and highs are the session's daily bars; the Nov 5 rows are the prior-close structure the session opened with; the Nov 6 rows were built at 5:40 PM ET after it.

The session in numbers

What the recap printed

Test app, session 2026-11-06, KPI. Captured November 7, 2026 (New York time).

Sentiment bars: Neutral $11.8B, Bullish $4.9B, Bearish $4.7B.

Test app, session 2026-11-06, Step 1. Captured November 7, 2026 (New York time).

What changed since November 5

Premium fell 52% from Thursday's digest high, back to about Wednesday's $21.7B. Calls regained 12 points of share. The bullish lean is one point, $4.9B against $4.7B, and more than half the premium was Neutral. Bullish premium fell from $10.8B to $4.9B, Bearish from $10.9B to $4.7B, and Neutral from $22.4B to $11.8B.

Leaders: where premium concentrated

Test app, session 2026-11-06, Step 2. Captured November 7, 2026 (New York time).

Six of the fifteen names in Step 2 carried more put than call premium, against fourteen on November 5; eight carried more calls, and GOOGL split evenly. NVDA fell from $3.7B Bearish to $1.7B Mixed. AMD fell from $2.3B Mixed to $1.3B Bearish on the day it gained 11.03%. SNDK and TSLA both went from Mixed to Bullish, and META entered the top six with $691M of calls against $174M of puts.

Test app, session 2026-11-06, Bottom line / glance. Captured November 7, 2026 (New York time).

Largest tickets across the session

Test app, Cookbooks · Biggest Options Trades, session 2026-11-06. Captured November 7, 2026 (New York time); the Ran stamp is the capture machine's clock.

The two largest tickets were META calls at 11:12, 70 days out: the 700 strike at $164.60M and the 750 at $156.90M. An 800 call in the same minute and expiry added $36.60M, all three tagged Neutral. Together they carry $358.1M, about half of META's $691M of call premium. BX printed a 155 put, 14 days out, at $92.09M Neutral and a 130 put, 105 days out, at $40.68M Bearish, both at 14:13. Fifteen of the 25 largest were puts, against 23 on November 5. One row is one print, not a position, and the tape does not link rows, so these do not show one structure.

Exposure and volatility context

The glance lists NVDA +1M shares-equiv. as largest Net DEX and BX 20.9% as largest Net DEI magnitude; Step 4 prints BX at 20.9%, with a Negative Net DEX sign. On November 5 the largest Net DEI was SIRI at 69.3%, also Negative.

Morning notes also said implied vol was coming off. Each evening's chain agrees for these names, comparing the same expiry across the two evenings:

Supported. All twelve readings fell, AMD's November 13 expiry the most, by 12.5 points. The November 9 row fell further, SPX 22.0% to 18.0% and QQQ 40.3% to 26.1%, but a weekend is now most of the three days it has left, so November 13 and 20 are the steadier reads. Friday's chain prices that Monday expiry at SPX ±1.6%, SPY ±1.6% and QQQ ±2.4%. Clock: each evening's closing chain, so this cannot say what happened around the jobs report itself.

Step 5 names CRWV at 92 / 100 with 127.3% 30-day implied volatility, after a gain of about 6.2%. The Vol tab reads IV30 at 123.0% on November 5 and 135.0% on November 6, yet the two chain expiries either side of 30 days both fell, December 4 from 131.6% to 123.9% and December 11 from 123.8% to 112.6%. Stored readings rising while the chain falls mark this as a faulty stored reading, which can happen after a large move, so this edition does not use it or compare other names' ranks across the day.

Index GEX: every row Negative

Test app, session 2026-11-06, Step 6 · T+1. Captured November 7, 2026 (New York time).

SPX widened by 15.51B, from −41.53 to −57.04, and DIA moved from −0.04 to −0.15. SPY (−7.13 to −3.09), QQQ (−2.8 to −0.96), NDX (−1.13 to −0.45) and IWM (−1.02 to −0.4) all narrowed. The all-expirations figures move the same way for each name: SPX −$70.4B to −$83.1B, SPY −$20.6B to −$14.6B, QQQ −$8.9B to −$5.9B.

Since October 30, SPX has gone −98.98, −44.76, −36.56, +36.11, −41.53, −57.04 and QQQ −12.7, −3.45, +4.6, −0.54, −2.8, −0.96.

Headline name: MU at $690

Test app, session 2026-11-06, Step 8. Captured November 7, 2026 (New York time).

Cards: last $690, premium $3.4B, 30% calls, 21% bullish, 135% average IV on traded contracts. On November 5 the cards read $659, $6.2B, 32% calls, 25% bullish, and 122%.

Test app, session 2026-11-06, Step 8 · prints. Captured November 7, 2026 (New York time).

All twelve of the largest tickets were puts, against eleven puts and one call on November 5. Eight printed at 12:29 and 12:30 in the December 2028 expiry, at the 2,050 and 2,150 strikes, about three times the $690 last, and together they carry $126M. Three more were the November 20 1,300 put, the strike that led Thursday's list, and they carry $43M. The tape does not link those rows, so they do not show one structure.

Movers: GOGO +74.3%

Test app, session 2026-11-06, Step 7. Captured November 7, 2026 (New York time).

The largest gain was GOGO, +74.3% in the bottom line and 74.3% in Step 7 (Up). November 5's was DNUT +29.5%. GOGO's daily bar went from a 2.30 prior close to 3.90, about +70%; the recap's figure is its first-to-last proxy. The longest bar on the down side of Step 7's chart is STLN.

What this session is evidence of

How to read these numbers

This edition reads TradingFlow's Daily Market Recap for November 6, 2026, captured on November 7 (New York time). Four runs between 11:45 AM and 12:00 PM 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 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. 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.

Expected Move is one standard deviation, spot × at-the-money IV × √(days to expiry / 365), so about one close in three lands outside the range even when vol is realised as priced. Each range is centred on that evening's chain spot, which can differ from the daily bar's close: MU's Thursday bar closed at 656.40, while its card read $659 and its range centres near that. The multiples here are rounded.

A structure built after the close still counts the contracts expiring that day: Today · 0DTE on Thursday's build is the November 5 expiry, not Friday's, and it is 8.1% of SPY's all-expirations gross GEX. Friday's own expiry is a separate 1DTE row in the Expiry structure panel. All-expirations walls can sit on the strike those contracts crowd.

TradingFlow's SPXW daily bar for November 6 spans 1.01% of the prior close against SPY's 1.04%, so this edition quotes it in full.

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 6 recap; confirm Nov 6, 2026 in the session KPI.
2. Open the November 5 recap beside it and compare the KPI strip, leaders, and all six index GEX rows.
3. Open the Overview for SPY, SPXW, QQQ, NVDA, AMD and MU for November 6, and read each session's bar against the one before it.
4. Open Expected Move for November 5 with SPXW, SPY, QQQ, NVDA, MU and AMD, and compare each 11/06 row with Friday's bar. Open it for November 6 to compare the 11/13 and 11/20 rows across the two evenings.
5. Open the GEX tabs for SPY, SPXW and QQQ for November 5, read each flip, and open Expiry structure to see which expiry each row is. Then open the same tabs for SPY, SPXW and QQQ for November 6.
6. Open Biggest Options Trades for November 6 and read the largest single tickets.
7. Compare MU's headline cards and largest tickets on both days.

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

Related reading

• November 5 recap
• November 4 recap
• Daily Market Recap in Cookbooks
• Option flow · Gamma exposure · IV rank