S&P 500 IndexUpdated SPX Gamma Levels Tuesday
Travel soccer took a toll and I was not able to post gamma updates Monday. 4700 is again the level with the highest concentration of gamma. More positive gamma = more anti-cyclical dealer hedging (buying into weakness, selling into strength), so prices should be sticky around this level and volatility low. Next target would be 4750. Interestingly call/put gamma ratio dropped to only 1.68, which is slightly bearish.
Enjoy!
Enjoy!
Note
TSLA is dragging markets down. From am gamma perspective there is no major pivot level below current price left. AT 4650 we have about 18M gamma located. "Gamma Flip" occurs at 4552. I doubt that we can reach this level even in a catastrophic scenario.
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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.