# SpotGamma Implied 5-Day Move

- The SpotGamma implied 5-day move is displayed each day in the Founder’s Notes as our proprietary estimate of the expected 1 standard deviation range (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.
- The 5-day move will always be larger than the 1-day expected move.
- This is not a simple formula derived from implied volatility, but something that uses analysis based on decades of historical datasets.
- In other words, this is a historical-based analysis of an expected move which complements calculations based on what the options market is providing.
- You can determine the expected range for the day by adding or subtracting the value of the 5-day move from the current S&P reference price.