SPX sits at 6,593.75 on post-FOMC Thursday with max pain at 6,590 and critical open interest at 6,600. Expect volatility to compress then break decisively: bullish scenario targets 6,615-6,625, bearish could drop to 6,575-6,550. Wait for volume-confirmed breaks, no break no trade.
SPX Zero DTE Plan, Thursday, September 18th, 2025. SPX Spot: 6,593.75. Max Pain: 6,590. Key Levels: 6,590, 6,600. Market Overview. Price is hovering near Max Pain at 6,590, indicating a potential pin zone. The largest open interest concentration is at 6600, making it the day's critical battleground. Post-FOMC volatility is expected to compress, leading to possible choppy early action before a directional move emerges. Bullish Scenario: A reclaim of 6600 could trigger a move toward 6615 to 6625, with a stretch target of 6650 if momentum and volume accelerate. Bearish scenario: A break below 6590 opens the door to a drop towards 6575, then 6550. A loss of 6575 may trigger further selling towards 6500. Grandma's advice: Wait for a confirmed break with volume. No break, no trade. Gamma exposure is reduced, meaning moves may be more decisive and less squeezed by dealer hedging. Avoid early overtrading. Let the market show its hand.
