S&P 500 IndexUpdated SPX Gamma Levels Wednesday
Story of the day was TSLA another stock heavily influenced by gamma hedging, which dragged SPX lower. Downside was limited by the "gamma magnet" at 4700 and all else equal we should trade between 4650 and 4700 tomorrow. Call/put gamma ratio decreased to 1.47 from 1.66. Coming from 2.07 (Nov 4th) that is a rather bearish signal. Good luck tomorrow!
Note
4650 comes into play now thanks to a catastrophic 10Y auction.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.