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Market Analysis6 min read

October 26 Recap: TSLA Takes the Lead From MU as SPX GEX Narrows to −$29.03B

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$13.8B in single-name premium, 26% bullish versus 26% bearish. TSLA led at $1.3B Bullish; SPX GEX was −$29.03B.

TSLA replaced MU at the top of the leaders table on October 26, at $1.3B Bullish against MU's $1.3B Mixed; MU had led every edition from October 13 to October 23. SPX net GEX narrowed from −73.74B on October 23 to −29.03B, and NDX turned Positive (−3.91 to +3.38). Single-name premium slipped 6%, from $14.7B to $13.8B.

$13.8B, 60% calls, 26% bullish versus 26% bearish. TSLA led at $1.3B Bullish; NDX and DIA were the Positive index rows.

Open Daily Market Recap or the October 26 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

October 26 session KPI strip

Test app, session 2026-10-26, KPI. Captured October 30, 2026 (New York time).

ReadingRecap value
Single-name premium$13.8B
Call / Put60% / 40%
Bullish / Bearish26% / 26%
Overall tonewas balanced
First 30-minute window09:30 · $2.1B

Sentiment bars: Neutral $6.6B, Bullish $3.6B, Bearish $3.6B.

October 26 premium by sentiment

Test app, session 2026-10-26, Step 1. Captured October 30, 2026 (New York time).

What changed since October 23

ReadingOct 23Oct 26
Single-name premium$14.7B$13.8B
Call / Put54% / 46%60% / 40%
Bullish / Bearish25% / 25%26% / 26%
Tonewas balancedwas balanced
LeaderMU $1.1B BullishTSLA $1.3B Bullish
SPX net GEX ($B)−73.74 Negative−29.03 Negative
Positive index rowsDIANDX · DIA
Largest headline-name ticketThree MU tickets at $5MTSLA 440 CALL 2027-01-15 $14M NEUTRAL

Bullish and bearish premium finished level for a third straight session, so the tone stayed balanced. MU's premium rose from $1.1B to $1.3B while its tag went from Bullish back to Mixed, and TSLA rose from $939M Bearish to $1.3B Bullish.

Leaders: where premium concentrated

October 26 top names by premium

Test app, session 2026-10-26, Step 2. Captured October 30, 2026 (New York time).

SymbolPremiumCallPutNet bias
TSLA$1.3B$864M$429MBullish
MU$1.3B$772M$492MMixed
META$727M$471M$257MMixed
NVDA$623M$412M$211MMixed
SNDK$561M$282M$279MBearish
AMD$464M$288M$175MMixed

Every top-six name showed more call than put premium, SNDK by only $3M ($282M against $279M), and SNDK was the only Bearish name. The bottom line and glance print TSLA at $1.2B; the leaders table and headline cards print $1.3B.

October 26 bottom line and glance

Test app, session 2026-10-26, Bottom line / glance. Captured October 30, 2026 (New York time).

Exposure and volatility context

The glance lists NVDA +1M shares-equiv. as largest Net DEX and TSLA 247% as largest Net DEI magnitude. Step 4 pairs TSLA's 247% with a Negative Net DEX sign; on October 23 the leader was TSLA at 213%.

Step 5's highest IV rank among active names is MELI 100 / 100, with 130.2% 30-day implied volatility, against CRWV's 70 / 100 and 109.0% on October 23.

Index GEX: SPX narrows to −29.03B, NDX turns Positive

October 26 index GEX backdrop

Test app, session 2026-10-26, Step 6 · T+1. Captured October 30, 2026 (New York time).

IndexNet GEX ($B)Regime
SPX−29.03Negative
NDX+3.38Positive
SPY−2.9Negative
QQQ−1.54Negative
IWM−0.06Negative
DIA+0.01Positive

SPX recovered 44.71B, from −73.74 to −29.03. NDX crossed from −3.91 to +3.38, while SPY (−14.09 to −2.9), QQQ (−4.84 to −1.54), and IWM (−1.2 to −0.06) moved toward zero. DIA stayed Positive at +0.01.

Headline name: TSLA at $391

TSLA headline cards for October 26

Test app, session 2026-10-26, Step 8. Captured October 30, 2026 (New York time).

Cards: last $391, premium $1.3B, 67% calls, 30% bullish, 57% average IV on traded contracts. On October 23 the headline name was MU.

TimeTypeStrikeExpiryPremiumSentiment
10:41CALL4402027-01-15$14MNEUTRAL
09:38CALL3702027-04-16$9MBULLISH
10:42CALL4002026-11-20$6MBEARISH
10:19CALL5002027-12-17$5MNEUTRAL
10:40PUT4302028-12-15$4MNEUTRAL
10:38CALL4002027-02-19$3MBULLISH

TSLA biggest prints for October 26

Test app, session 2026-10-26, Step 8 · prints. Captured October 30, 2026 (New York time).

The largest TSLA ticket was a $14M 440 call expiring 2027-01-15, tagged Neutral. Five of the six were calls, and all six printed between 09:38 and 10:42.

Movers: RPD and NAUT

October 26 intraday movers

Test app, session 2026-10-26, Step 7. Captured October 30, 2026 (New York time).

Bottom line: RPD +20.2% in the first two runs, +20.5% in the run captured here. Step 7: NAUT −22.2%, Down in the first two runs, RPD 20.2%, Up in the captured run. October 23's largest gain was NAUT +26.9%.

What this session is evidence of

QuestionOct 26Oct 23Clock
Size / tone$13.8B · 26% / 26% · was balanced$14.7B · 25% / 25% · was balancedSession tape
ConcentrationTSLA $1.3B BullishMU $1.1B BullishSession leaders
Relative exposureTSLA DEI 247% · DEX NegativeTSLA DEI 213% · DEX NegativeSession exposure
VolatilityMELI IV rank 100 · IV 130.2%CRWV IV rank 70 · IV 109.0%T+1
Index structureSPX −29.03B Negative · NDX, DIA PositiveSPX −73.74B Negative · DIA PositiveT+1
Largest headline-name printTSLA 440 CALL 2027-01-15 $14M NEUTRALThree MU tickets at $5MSession ticket

How to read these numbers

This edition reads TradingFlow's Daily Market Recap for October 26, 2026, captured on October 30 (New York time). Three runs printed the same figures apart from the movers above. 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. Neutral premium supplies no direction, and call share is option type, not bullish sentiment. Net DEI is an unsigned 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.

Reproduce the findings

  1. Open the October 26 recap; confirm Oct 26, 2026 in the session KPI.
  2. Open the October 23 recap beside it and compare the KPI strip, leaders, and all six index GEX rows.
  3. Compare the headline name's cards and largest tickets on both days: TSLA on October 26, MU on October 23.
  4. Read Steps 4–6 separately: exposure magnitude, volatility rank, and index structure.

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

Educational and informational only, not financial advice. Options-flow reads are statistical inferences. Dealer exposure levels, including GEX, DEX, DEI, walls, and magnets, are modeled estimates, not guarantees.