SPY institutional options flow analysis — multi-leg block trades, dominant direction, and gamma analysis from the public options tape for February 23, 2026. Articles older than 60 days are public; sign in to read flow within the past month, upgrade to AIme Premium for today's unusual options trades without the delay.

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SPY Unusual Options Activity — 2026-02-23

Institutional flow on 2026-02-23

Multi-leg block trades, dominant direction, and gamma analysis

$8.4M2 trades
Long PutShort Put

Trade Details

BUY$675 PUT2026-03-03$5.8MLong Put
SELL$660 PUT2026-03-03$2.6MShort Put

Gamma Analysis

GEX Bias
Bearish
Support
$681
Resistance
$682