Reading the session · Episode 9
US500, Thursday Nov 5, 2026: how we read the day
Play the video · 3:10A trend day: the price fell almost two hundred points by 10:30, the VIX went from 17 to 27, and on SPX every 5-minute bar closed under the EMA 8 and the EMA 21. Against a move like this we don't go: we wait for a pullback and follow the direction. Below the price, the map showed the VG_GEX 7425 wall, the heaviest, and the 7350 wall. At 11:35 the price climbed back to 7487, onto the VG_VOL 7474 bar, and stopped under the SPX EMA 21; at 11:45 the SPX bar closed back under the EMA 8: two 7450 puts expiring that day, bought at 31.5 each, the risk is the premium. In the afternoon an SPX bar closed above the EMA 21 at 14:10, the morning's trend was over, and the day closed at 7356 on the VG_GEX 7350 wall.
A reading of a past session, not a signal and not a trade suggestion. Walls are model estimates. Points are hypothetical; past results do not guarantee future ones. Risk disclosure ↗︎
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The narration of the video, as text.
Thursday in one look
US500, Thursday, November 5. Our reading: plus thirty-two points of premium, with two puts. Let's see how we read the day, and why.
One note: languages are dubbed automatically, so the voice may sound a bit odd.
A trend day: not against it
The day falls straight from the open: by 10:30 the price has already lost almost two hundred points, and the VIX goes from seventeen to twenty-seven. On SPX every bar closes under both averages. Against a move like this we don't go: we wait for a pullback, and we follow the direction. Below the price, the map shows the VG_GEX 7425 wall, the heaviest, and the 7350 wall.
The pullback: two puts
At 11:35 the price climbs back to 7487, onto the VG_VOL 7474 bar, and stops under the SPX EMA 21. At 11:45 the SPX bar closes back under the EMA 8. We enter: two 7450 puts expiring today, at 31.5 points each. The risk is the premium. The first one targets the 7425 wall; the second one runs as long as the SPX bars close under the EMA 8.
The first put, on the wall
At 12:03 the price touches 7425: we sell the first put at 38.9. Plus six point nine.
The second put, left to run
The price keeps falling: at 1:00 it reaches 7365. At 1:15 the SPX bar closes above the EMA 8: the second put comes out at 56.8. Plus twenty-four point eight.
The afternoon
At 2:10 an SPX bar closes above the EMA 21: the morning's trend is over, and we are already out. The day closes at 7356, on the VG_GEX 7350 wall.
The tally
The tally: plus six point nine on the first put, plus twenty-four point eight on the second. In total, plus thirty-two points of premium.
How we read it
It's a reading, not a signal. Subscribe, and to see the levels live, join us on LiveGexLevels: launch price and a free trial.
