The week's biggest bet: net gamma is negative on all five SPY expirations next week, and on the Friday, Nov. 20 expiration, put gamma is 3x call gamma.
→ SPY at $754 is below its gamma flip of $761; QQQ at $680 is below $686
→ ~75% of the week's put gamma sits in Friday's monthly expiration
→ Nvidia reports Tuesday after the close, 3 days before expiration
I think market makers aren't dampening moves this week; they're amplifying them. Worst case: if Nvidia's earnings disappoint and QQQ stays below $686, hedging flows accelerate the selloff; that's the level I'm watching.
#Options #Economy
Watching: $SPY $QQQ $NVDA
→ SPY at $754 is below its gamma flip of $761; QQQ at $680 is below $686
→ ~75% of the week's put gamma sits in Friday's monthly expiration
→ Nvidia reports Tuesday after the close, 3 days before expiration
I think market makers aren't dampening moves this week; they're amplifying them. Worst case: if Nvidia's earnings disappoint and QQQ stays below $686, hedging flows accelerate the selloff; that's the level I'm watching.
#Options #Economy
Watching: $SPY $QQQ $NVDA
