It Ain't Over Yet $SPX
Updated
Until the 2900 volatility trigger kicks in there is amplified risk to downside. 2900 is where options dealers flip from short gamma to long ie from "volatility fueling" to "volatility dampening". That's not a bearish call - simply means that risks of a 1-2% down move in very short order is still there. Market needs a real catalyst to move higher, other over 2900 itll probably just be a grind.
Trade closed: target reached
2850 has some large gamma which could form support. Table is set for quick up OR down 1-2% move here, feels like UP now has less resistance.
$SPX $SPY Options Gamma Modeling
spotgamma.com
spotgamma.com
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