SPY Pins Call Wall as 0DTE Sweeps Signal Afternoon Breakout Attempt

Thursday's session delivered almost exactly what the pre-market brief called for: SPY opened near its 750 put wall, held, and ground higher to tag 754.85 — within pennies of the 755 call wall. The morning's bullish thesis played out with precision, now the question is whether the $390M+ in 0DTE SPX call sweeps clustered between 7520 and 7550 have the weight to push SPY through its last ceiling before the weekend.

VIX has collapsed 4.61% to 15.92 even as equities are effectively flat on the day — a cross-asset divergence that suggests volatility sellers are confident the tape holds. With SPY sitting just 0.56 below its 755 call wall and five consecutive 0DTE SPX call sweeps all printing bullish sentiment, the afternoon setup leans toward a breakout attempt. The level that matters most heading into the close: whether SPY can clear 755 and hold it.