The SpotGamma implied 1-day move is displayed each day in the Founder’s Notes as our proprietary estimate of the expected 1 standard deviation range for the next day, which is the expected move based on historical data with 68.3% confidence.

It is also available right from the Dashboard on the key levels for SPX, SPY, QQQ, NQ, and RUT.

This is not a simple formula derived from implied volatility, but something that uses analysis based on decades of historical datasets.

The Implied 1-Day Move is not broken 35% of trading days for the SPX, and the SPX closes within the Implied 1-Day Move in 76% of trading days

Use case: Consider putting on a short-dated iron condor with wings structured around the Implied 1-Day move to take advantage of the expected volatility for that day.

You can 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.