SPX is trading in a tight 6700-6750 range with balanced call/put positioning slightly favoring bulls. Key support sits at 6700 and 6675, resistance at 6750. The playbook lays out three scenarios: range-hold with upside to 6765, downside break to 6675-6650, or oscillation within the band. Wait for clear confirmation before trading.
SPX Zero DTE Playbook, October 21st, 2025. Yesterday's close: 6735.13. Battle zone: 6700 to 6750. Market context: SPX sits in a tight range between 6700 support and 6750 resistance, with balanced call/put positioning slightly favoring bulls. Expect compressed volatility and chop within this band unless a major catalyst breaks the range. Key levels: 6750, strong resistance, likely stall point. 6725 to 6745, high-volume EOI overlap, chop and fakeouts. 6700, key support, losing it could accelerate downside. 6675, weak support if 6700 breaks. Grandma's bias: Neutral to bullish early, cautious below 6700. Above 6725, buyers may push to 6750 to 6765. Below 6700, momentum shifts to 6675 to 6650. Between 6700 to 6750, expect range-bound action. Scenarios: Base case: Hold above 6725, target 6745, 6750, 6765. Downside break: lose 6700. Target 6675 to 6650. Range trap: stay between 6700 to 6750. Revert near 6730. It's not a breakout day, it's a patience day. Avoid chasing near 6750 or shorting into 6700. Wait for clear confirmation before acting.
