QCOM – Bounce from HVL, Watching 220 Call Wall ConfluenceQUALCOMM IncorporatedNASDAQ:QCOMTanukiTradeQCOM is showing a constructive bounce from a key options-driven regime level. On the daily chart, price recently reacted from the 197.5 High Volatility Level (HVL) and is now continuing within an upward trend structure after a healthy pullback. This matters because HVL often acts as a key regime pivot. As long as price holds above this zone, QCOM remains in a more constructive gamma environment, where volatility can become more controlled compared to reactive downside conditions. 🔶 Options Structure Context 🔶 The next major upside level to watch is: 👉 220 – highest call wall This level is especially important because it has multiple layers of confluence: - highest call GEX level - highest call open interest - highest call volume - confluence zone on the chart That makes 220 a clear reaction zone, not just a random resistance level. 🔶 Downside Structure 🔶 The main downside reference is: 👉 190 – P1 / strongest put wall This level sits below HVL and becomes much more important if price loses the 197.5 HVL level. 🔶 Key Structure to Watch 🔶 197.5 (HVL) – regime pivot / recent bounce zone 220 – major call wall and confluence target 190 – strongest put wall below HVL Uptrend structure – still intact after pullback For now, QCOM remains in an upward trend after bouncing from HVL. The key question is whether momentum can carry price toward the 220 call wall, and more importantly, how the market reacts once it gets there.