Todays price action demonstrated the power of "the gamma". From 1045 we bounced to 1095 where dealer liquidity hit the markets and pinned the price to this level. If we can escape the gravity of 21M gamma notional we can now launch upwards to 1200 where 10M gamma notional acts as a magnet. To the downside we have 1050 as resistance. Gamma inversion occurs at 990. As of now 46M gamma notional is expiring Friday. Given our total net gamma of 125M this is a significant junk, so brace for a volatile environment going into the weekend.
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.
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.