October 28 Recap: MU Retakes the Lead at $2.0B as SPY and QQQ Flip Negative
$14.5B in single-name premium, 27% bullish versus 27% bearish. MU led at $2.0B Mixed; SPX GEX was +$22.53B.
MU returned to the top of the leaders table on October 28 at $2.0B, 54% above its $1.3B on October 27, while TSLA fell from $1.3B to $821M. SPX net GEX rose from +17.41B to +22.53B, but SPY (+3.81 to −3.23) and QQQ (+1.5 to −1.64) flipped back to Negative. Single-name premium was little changed at $14.5B.
$14.5B, 64% calls, 27% bullish versus 27% bearish. MU led at $2.0B Mixed; four of six index GEX rows were Positive.
Open Daily Market Recap or the October 28 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 2026-10-28, KPI. Captured October 30, 2026 (New York time).
| Reading | Recap value |
|---|---|
| Single-name premium | $14.5B |
| Call / Put | 64% / 36% |
| Bullish / Bearish | 27% / 27% |
| Overall tone | was balanced |
| First 30-minute window | 09:30 · $2.4B |
Sentiment bars: Neutral $6.7B, Bullish $4.0B, Bearish $3.9B.
Test app, session 2026-10-28, Step 1. Captured October 30, 2026 (New York time).
What changed since October 27
| Reading | Oct 27 | Oct 28 |
|---|---|---|
| Single-name premium | $14.7B | $14.5B |
| Call / Put | 63% / 37% | 64% / 36% |
| Bullish / Bearish | 26% / 24% | 27% / 27% |
| Tone | leaned bullish | was balanced |
| Leader | TSLA $1.3B Bullish | MU $2.0B Mixed |
| SPX net GEX ($B) | +17.41 Positive | +22.53 Positive |
| Positive index rows | SPX · NDX · SPY · QQQ · IWM · DIA | SPX · NDX · IWM · DIA |
| Largest headline-name ticket | Two TSLA 240 CALLs at $9M, NEUTRAL | MU 980 CALL 2026-11-20 $41M BEARISH |
Bullish and bearish premium finished level again at 27%, so the tone returned to balanced. MU's largest ticket, a $41M call, was more than four times TSLA's $9M top tickets on October 27.
Leaders: where premium concentrated
Test app, session 2026-10-28, Step 2. Captured October 30, 2026 (New York time).
| Symbol | Premium | Call | Put | Net bias |
|---|---|---|---|---|
| MU | $2.0B | $1.5B | $531M | Mixed |
| TSLA | $821M | $529M | $292M | Mixed |
| META | $779M | $377M | $402M | Bearish |
| SNDK | $742M | $425M | $317M | Mixed |
| NVDA | $631M | $411M | $220M | Bearish |
| AMD | $617M | $435M | $183M | Mixed |
MU's call premium alone was $1.5B, against $531M in puts. TSLA's tag moved from Bullish to Mixed. META and NVDA were Bearish, and META was the only top-six name with more put than call premium ($402M against $377M).
Test app, session 2026-10-28, Bottom line / glance. Captured October 30, 2026 (New York time).
Exposure and volatility context
The glance lists ORCL +1M shares-equiv. as largest Net DEX and TSLA 193% as largest Net DEI magnitude. Step 4 pairs TSLA's 193% with a Negative Net DEX sign; on October 27 the leader was BA at 204%.
Step 5's highest IV rank among active names is GOOG 82 / 100, with 42.6% 30-day implied volatility, against AMZN's 69 / 100 and 43.8% on October 27.
Index GEX: SPX +22.53B, SPY and QQQ flip Negative
Test app, session 2026-10-28, Step 6 · T+1. Captured October 30, 2026 (New York time).
| Index | Net GEX ($B) | Regime |
|---|---|---|
| SPX | +22.53 | Positive |
| SPY | −3.23 | Negative |
| NDX | +2.27 | Positive |
| QQQ | −1.64 | Negative |
| IWM | +0.97 | Positive |
| DIA | +0.04 | Positive |
SPX rose 5.12B while two ETF rows went the other way: SPY fell from +3.81 to −3.23 and QQQ from +1.5 to −1.64. NDX narrowed from +13.67 to +2.27, IWM eased from +1.13 to +0.97, and DIA rose from 0 to +0.04.
Headline name: MU at $978
Test app, session 2026-10-28, Step 8. Captured October 30, 2026 (New York time).
Cards: last $978, premium $2.0B, 74% calls, 33% bullish, 83% average IV on traded contracts. On October 27 the headline name was TSLA.
| Time | Type | Strike | Expiry | Premium | Sentiment |
|---|---|---|---|---|---|
| 15:52 | CALL | 980 | 2026-11-20 | $41M | BEARISH |
| 15:52 | CALL | 1,250 | 2027-02-19 | $30M | NEUTRAL |
| 09:36 | CALL | 950 | 2026-10-30 | $20M | BEARISH |
| 14:36 | CALL | 900 | 2027-01-15 | $10M | BEARISH |
| 15:52 | CALL | 1,550 | 2027-02-19 | $9M | NEUTRAL |
| 09:55 | CALL | 1,280 | 2027-12-17 | $9M | BEARISH |
Test app, session 2026-10-28, Step 8 · prints. Captured October 30, 2026 (New York time).
All six of MU's largest tickets were calls. The largest was a $41M 980 call expiring 2026-11-20, tagged Bearish, one of three MU tickets printed at 15:52 that came to $80M together. A $20M 950 call expiring 2026-10-30 printed at 09:36.
Movers: GMAB +28.6%
Test app, session 2026-10-28, Step 7. Captured October 30, 2026 (New York time).
The largest gain was GMAB +28.6% (Step 7: 28.6%, Up). October 27's was ENVX, +23.8% in the bottom line and 23.9% in Step 7.
What this session is evidence of
| Question | Oct 28 | Oct 27 | Clock |
|---|---|---|---|
| Size / tone | $14.5B · 27% / 27% · was balanced | $14.7B · 26% / 24% · leaned bullish | Session tape |
| Concentration | MU $2.0B Mixed | TSLA $1.3B Bullish | Session leaders |
| Relative exposure | TSLA DEI 193% · DEX Negative | BA DEI 204% · DEX Negative | Session exposure |
| Volatility | GOOG IV rank 82 · IV 42.6% | AMZN IV rank 69 · IV 43.8% | T+1 |
| Index structure | SPX +22.53B Positive · NDX, IWM, DIA Positive | SPX +17.41B Positive · NDX, SPY, QQQ, IWM, DIA Positive | T+1 |
| Largest headline-name print | MU 980 CALL 2026-11-20 $41M BEARISH | Two TSLA 240 CALLs at $9M, NEUTRAL | Session ticket |
How to read these numbers
This edition reads TradingFlow's Daily Market Recap for October 28, 2026, captured on October 30 (New York time). Two runs a minute apart 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. 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
- Open the October 28 recap; confirm Oct 28, 2026 in the session KPI.
- Open the October 27 recap beside it and compare the KPI strip, leaders, and all six index GEX rows.
- Compare the headline name's cards and largest tickets on both days: MU on October 28, TSLA on October 27.
- 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
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.
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