Anduril Unveils $6.6 Billion Submarine Facility Expansion

Defense tech contractor Anduril announced a major $6.6 billion submarine industrial expansion dubbed Arsenal-2, according to reports from Deltaone and CNBC. The facility will be constructed at Tradepoint Atlantic in Baltimore County, Maryland, creating 3,100 direct jobs and over 11,000 indirect jobs. The move follows Anduril landing a $2.9 billion Navy submarine shipyard contract shortly after its chief executive joined a Pentagon weapons advisory group, CNBC reported. While industrial and defense capital investments scale, the broader equity tape remains heavily split along dealer positioning lines. On my equity desk, the broad market shows solid structural cushion, while tech continues to fight dealer resistance. SPY trades at 778.14 in long gamma, sitting well above its gamma flip at 765.3. That keeps dealers acting as natural market shock absorbers, buying dips and selling rallies between a put wall at 772 and a call wall at 780. The expected move for SPY is calibrated at plus or minus 1.15% with skew at 1.9. QQQ tells an entirely different story. Spot trades at 760.51, pinned below its gamma flip at 764.15 and trapped in short gamma. In this pocket, dealers are forced to press directional momentum rather than cushion it, hedging by selling into weakness and chasing upside toward the 762 call wall. The downside put wall sits much lower at 749, leaving tech exposed to wider intraday ranges and a steeper skew of 2.6. Small caps on IWM mirror SPY's stability, holding at 284.46 in positive gamma above a 282.28 flip, framed by a 282 put wall and a 286 call wall. Capital commitments into defense infrastructure keep building on the headline tape, but intraday index structure is divided. As long as QQQ remains beneath its 764.15 flip, tech faces mechanical dealer selling on breaks, while SPY retains shock-absorbing insulation up to 780.