SPX Expected High & Low Move, S&R (Daily Manual update Req)

This script enables users to manually plot the anticipated low and high price movements, while also visualizing both positive and negative gamma exposures. The anticipated low represents the projected downside threshold based on expected volatility, whereas the anticipated high reflects the potential upside boundary under similar conditions. Positive gamma indicates scenarios where option positions benefit from underlying price movements, enhancing convexity and reducing directional risk. Conversely, negative gamma highlights exposures where option positions lose value as the underlying price moves, amplifying directional risk and requiring active hedging.
I use Barchart to manually update my personal chart each morning. I am not responsible for any information presented on their website. This is a reference to determine when and where to take profit etc.