The longer $SPX holds 7,500, the more this looks like a retest of Monday's breakout rather than a full reversal.
Anyone who bought 0DTE and 1DTE puts yesterday betting on a drop to 7,400–7,450 is now underwater. Classic gamma squeeze in reverse — short-dated puts getting crushed as the floor holds.
That's options flow for you. The circle of life, but with theta decay.
Anyone who bought 0DTE and 1DTE puts yesterday betting on a drop to 7,400–7,450 is now underwater. Classic gamma squeeze in reverse — short-dated puts getting crushed as the floor holds.
That's options flow for you. The circle of life, but with theta decay.