Quick intraday note given the explosive gamma dynamics. We reached our targets sooner than expected and investors are rolling their strikes higher. New pivot is 4725 with 49M gamma notional (up from 43M yesterday), upside target is 4750 with 85M gamma notional (up from 70M). Our old pivot at 4700 (41M gamma notional) acts as our range bottom now.
Note
XLK is dragging markets lower. Precision landing at 4700. Lets hope this level holds.
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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.