SPDR S&P 500 ETF TRUST
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SPY Expected Move — Jul 10 recap: inside the zone, upper third

64
Contained session that leaned up but never broke out.

Zone going in: 746.91 – 756.51 (anchor 751.71), off a VIX1D near 10 — one of the tightest
1-day implied ranges you'll see, only ±0.64%.

How it played:

*Opened near the anchor and worked higher through the day.
*RTH close 754.95 — +3.24, about two-thirds (~67.5%) of the expected move used.
*Pushed into the upper third but stopped ~1.5 short of the 756.51 top; the 746.91 floor was never in play. The market priced a calm day and got a mild upside drift — most of the range spent to the upside, but the close still held inside the zone. The expected move did its job: a probability, not a wall, and today price stayed within it.

— Janice

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