Qamar Zaman breaks down SPX 0 DTE options trading after the October 16 close at 6629. Key levels: 6600 put wall as support, 6700 call wall as resistance, and 6625-6640 as a heavy-volume chop zone. The core rule: trade the levels, not the noise.
SPX 0 DTE Playbook, October 17th, 2025. Spot: October 16th close 6629. Expiration: 0 DTE. Market Setup: SPX is pinned between strong put support at 6600 and a call wall at 6700, suggesting likely chop near 6625 to 6640 unless a breakout occurs. Key zones: 6600 put wall strong support, breach opens downside. 6625 to 6640 magnet zone heavy volume, OI cluster likely chop zone. 6700 call wall major resistance, expect rejection. Scenarios: Range base case chop between 6625 to 6640. Upside: Above 6650, 6680 to 6700, fade near 6700. Downside: Below 6600, 6575 to 6550 with momentum. Grandma's Bias: Above 6625, bullish towards 6650 to 6680. Below 6600, bearish towards 6575 to 6550. Between 6625 to 6640, neutral chop zone. Grandma's rule: trade the levels, not the noise.
