Qamar (Q) ZamanHost and Founder, Coffee With Q Show by Storytellers · trading structure, no structure, no trade

SPY ZERO DTE January 5, 2026 EDGE News | Coffee With Q

5 Jan 2026 · 2 min

Watch on YouTube

1:35

In this market commentary, the speaker outlines a disciplined, non‑predictive approach to trading SPY on a zero‑days‑to‑expiration (DTE) day. The core premise is to let price action dictate direction, using the "flip zone" as the primary bias indicator: prices above the flip favor calls, below favor puts. The current SPY close of 682.96 places the market below the flip, maintaining a bearish bias. The price is sandwiched between two major zones that create a "magnet effect": resistance at 685 (with Max Pain at 57.7 million contracts), further resistance at 687 and 690, and support at 683, 681, and a strong put wall at 680. This massive positioning generates upward pull from the max‑pain level and downside protection from the put wall, leading to heightened chop risk. The speaker emphasizes observing whether these levels break or hold before reacting, and repeatedly notes that the content is educational only and not financial advice.

Chapters

The lesson today is simple. Let price decide which way it's breaking. Don't predict. SPY closed at 682.96 and is starting the week below the flip, which keeps us in bearish territory. The flip zone defines directional bias. Above the flip, calls have edge. Below the flip, puts have edge. Exact flip levels are for VIP members. Right now, Price is trapped between the 2 biggest levels on the chart. That puts us in chop city, with massive positioning creating a 5-point magnet effect. Above price, resistance starts at 685— Max Payne with the largest positioning on the board at 57.7 million. Above that, 687 and the 690 ceiling. The flip zone sits just above Max Payne, acting as the critical pivot for directional control. Below price, 683 is near-term support, followed by 681. At 680, we see huge positioning with heavy put protection. Starting the week below the flip keeps the bearish bias intact, but being between 2 giants increases chop risk. Max pain above creates upward pull, while the massive put wall below provides downside protection. That's the tension driving price. This is not a prediction environment. Let levels break, let them hold, then react to the structure. Educational only, not financial advice.