September 14 Recap: Balanced Tape, MU $2B, SPX GEX Negative
Daily Market Recap on the completed September 14 session printed $17.5B of single-name premium, 67% in calls, with tone balanced at 21% bullish vs 21% bearish. MU absorbed $2.0B mixed. SPX GEX was Negative at −$87.61B.
This is a Daily Market Recap readout of the completed September 14, 2026 session. It is not a trade.
Two clocks sit in the same report:
- Session tape — single-name (STOCK) premium, sentiment, timing, and movers from AggregatedOptionTrades.
- TradingFlow GEX / IV — prior-close chain and meta snapshots (T+1). They do not recompute live 0DTE books.
The session was balanced at 21% bullish vs 21% bearish, with $17.5B of single-name premium and 67% of it in calls. The heaviest name was MU ($2.0B, Mixed). Index GEX was Negative on SPX at −$87.61B. That is the finding.
Tape versus T+1 structure. Sentiment and premium are the session. GEX is prior-close. Neither row is a forecast.
Readers with access can open Daily Market Recap or the dated run market-recap~2026-09-14. Sign-in and an eligible trial or subscription may be required.
What the recap printed
Test app, official Daily Market Recap, session 2026-09-14. KPI strip is the session tape. Captured September 15, 2026.
On this run:
- Session: Sep 14, 2026 (latest completed)
- Total premium: $17.5B (single-name)
- Call premium: 67% · put premium: 33%
- Bullish: 21% · bearish: 21%
- Tone: balanced
- Largest sentiment bucket: NEUTRAL $10.1B (bullish $3.7B, bearish $3.7B)
- Heaviest name: MU $2.0B
- Bottom-line mover: CYPH +15.5%
Neutral premium (spreads, hedges, two-sided prints) is not directional. Tone is the bullish-versus-bearish gap, not the neutral bucket.
Same run, Step 1. Neutral is the largest bucket. Captured in the test app on September 15, 2026.
Glance, one reading per axis:
| Axis | Symbol | Reading |
|---|---|---|
| Most option premium | MU | $2B |
| Largest Net DEX | KO | +2M shares-equiv. |
| Largest Net DEI magnitude | TSLA | 195% |
| Highest IV rank | GS | 68 / 100 |
| Index gamma regime | SPX | Negative |
Leaders: MU $2.0B Mixed
Test app, Step 2, session 2026-09-14. Color is net bias on that name, not a forecast. Captured September 15, 2026.
Top of the book:
| Symbol | Premium | Call | Put | Net bias |
|---|---|---|---|---|
| MU | $2.0B | $1.3B | $714M | Mixed |
| NVDA | $937M | $624M | $313M | Bearish |
| SNDK | $828M | $462M | $366M | Mixed |
| TSLA | $825M | $497M | $328M | Bearish |
| MRK | $755M | $754M | $2M | Bearish |
| META | $755M | $572M | $184M | Bullish |
MRK is almost all calls ($754M of $755M) and still tagged Bearish. Call share is not the same field as net bias.
First recorded window: 09:30, $2.9B. Timing alone does not prove intent.
Largest Net DEI: TSLA 195%, associated Net DEX Negative. DEI is unsigned magnitude versus typical volume; DEX is a separate signed classification. Neither proves trader identity or dealer inventory.
Highest IV rank among active names: GS 68, 30-day IV 34.6%. IV rank is where that name's 30-day implied vol sits in its own past year.
Index GEX: SPX Negative −$87.61B
Test app, Step 6, session 2026-09-14. GEX is prior-close structure (T+1) under the product dealer-sign convention. Captured September 15, 2026.
| Index | Net GEX ($B) | Regime |
|---|---|---|
| SPX | −87.61 | Negative |
| SPY | −10.15 | Negative |
| QQQ | −5.42 | Negative |
| IWM | −1.98 | Negative |
| NDX | +1.74 | Positive |
| DIA | −0.06 | Negative |
NDX is the exception on this snapshot. Negative GEX here is modeled structure, not observed dealer inventory. See Negative GEX is session risk, not a trade.
Headline name: MU at $924
Test app, Step 8, session 2026-09-14. Headline name is the heaviest premium, not the biggest percent mover. Captured September 15, 2026.
MU on this run:
- Last: $924
- Option premium: $2.0B
- Call share: 65%
- Bullish share: 18%
- Average IV on traded contracts: 74%
Biggest prints (as the recap listed them):
| Time | Type | Strike | Expiry | Premium | Sentiment |
|---|---|---|---|---|---|
| 10:45 | CALL | 1,050 | 2026-11-20 | $37M | NEUTRAL |
| 10:45 | CALL | 1,100 | 2026-11-20 | $29M | NEUTRAL |
| 11:09 | CALL | 1,180 | 2028-12-15 | $6M | NEUTRAL |
| 12:04 | CALL | 1,050 | 2027-01-15 | $5M | BEARISH |
| 09:37 | CALL | 1,040 | 2028-12-15 | $5M | BEARISH |
The two largest MU prints are Neutral. Heavy call premium on MU is not the same as a bullish tape on MU.
Movers: CYPH +15.5% and PBF −11.3%
The recap prints two mover readings. They are not the same field.
- Bottom line: "the day's biggest mover was CYPH, up 15.5%."
- Step 7 key result: leading mover PBF, −11.3%, direction Down.
Test app, Step 7, session 2026-09-14. intraday_pct is an in-tape first-to-last underlying-price proxy. Captured September 15, 2026.
The chart ranks both sides of the move spectrum. CYPH is the largest up bar; PBF is the largest down bar. The recipe does not merge them into one "biggest mover." Quote both. Movers are not intent.
What this session is evidence of
| Question | Recap on Sep 14 | Clock |
|---|---|---|
| How large was the single-name tape? | $17.5B, 67% calls | Session premium |
| Did the tape lean? | Balanced 21% vs 21%; Neutral $10.1B | Session sentiment |
| Where did the dollars go? | MU $2.0B Mixed; NVDA $937M Bearish | Session leaders |
| When did premium arrive? | First window 09:30 $2.9B | 30-minute buckets |
| What was index GEX? | SPX −$87.61B Negative; NDX +$1.74B Positive | T+1 snapshot |
| What did MU print? | Last $924, 65% calls, largest print 1050C Nov-20 $37M Neutral | Headline name + tape |
| Biggest mover? | Bottom line CYPH +15.5%; Step 7 key PBF −11.3% | Two recap fields |
One session is not a trend. Proxies (intraday_pct, simplified GEX) are descriptive estimates, not price forecasts.
Reproduce the findings
- Open Daily Market Recap and lock session Sep 14, 2026 (or open market-recap~2026-09-14).
- Record the KPI strip: total premium, call/put share, bullish/bearish share, and the Bottom line sentence.
- Step 2: confirm MU $2.0B Mixed at the top of premium.
- Step 6: confirm SPX −87.61 Negative and NDX Positive.
- Step 7 and Step 8: write down PBF −11.3% and CYPH +15.5% as separate fields, then the MU 10:45 1050C Neutral print.
- Stop before "therefore fade MU" or "therefore the next session stays negative GEX."
TradingFlow App Home → Cookbooks → Daily Market Recap for the session lock.
Related reading
- September 9 findings: close sat on 762 / 7635
- Week of September 1: 761 to 7750, then 770 / 7720
- Daily Market Recap: read a full options session in Cookbooks
- Negative GEX is session risk, not a trade
Learn more
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