# What is the SpotGamma Implied 1-Day Move?

The SpotGamma Implied 1 Day Move is our proprietary estimate of the expected trading range for the day. This range is based on the current options environment and backed by decades of historical data sets. You can easily determine the expected range for the day by adding or subtracting the value of the 1-day move from the current S&P reference price.

**Why does the SpotGamma Implied 1 Day Move matter?**

Our gamma derived estimate provides a valuable 1 day estimate (9:30ET to 4:30PM) of SPX movement.

**How to use the SpotGamma Implied 1 Day Move?**

To calculate the estimated range on the day, ± the SpotGamma Implied Move from the SPX cash opening price. This is our estimated 1 standard deviation range for the day.

Subscribers can locate each day's Implied 1 Day Move in the Daily Founder's Notes.