$BTC 0DTE vs Weekly GEX — Friday 28 Aug
Spot ~$79.4k. Today’s options book is positive gamma. Next week is already in transition.
Today (0DTE · 28 Aug 08:00 UTC)
• Regime: POSITIVE GAMMA
• Dealer delta: +29,684 BTC (~$2.36B)
• Net GEX: +$77.55M
• Flow: sell rallies / buy dips (stabilizing, not amplifying)
Projected dealer hedge if price moves:
• +1% → $80.2k: sell 515 BTC
• +2% → $81.0k: sell 1,196 BTC
• +3% → $81.8k: sell 2,015 BTC
• −1% → $78.7k: buy 337 BTC
• −2% / −3%: buy 531–598 BTC
Walls today
• Resistance: $80k ($22.2M call wall) → $81k → $82k
• Support cushions: $79k then $78k
• Gamma flip is way down at $66.2k — not the intraday pivot
• Max pain $69k — only relevant if we flush
This week into 4 Sep
• Regime: TRANSITION
• Gamma flip: $78,490 (only ~1.2% below spot)
• $78k and $77k are trapdoors (negative GEX) — drops can accelerate if those break
• Biggest weekly call wall: $82k ($24.1M)
• Weekly max pain: $70k
• P/C OI 0.53 → book is call-heavy further out
How I’m reading it
1. Friday = fade $80k, buy $79k–$78.5k as long as 0DTE positive gamma holds.
2. A clean break and hold above $80k still meets dealer sell flow into $81k–$82k. Don’t chase the first poke.
3. Invalidation for the range thesis: lose $79k, then $78.5k. That’s where weekly flip + trapdoors can turn a dip into a fast move toward $77k.
4. This is flow pressure, not guaranteed volume. Spot/perps can overpower it on news.
Spot ~$79.4k. Today’s options book is positive gamma. Next week is already in transition.
Today (0DTE · 28 Aug 08:00 UTC)
• Regime: POSITIVE GAMMA
• Dealer delta: +29,684 BTC (~$2.36B)
• Net GEX: +$77.55M
• Flow: sell rallies / buy dips (stabilizing, not amplifying)
Projected dealer hedge if price moves:
• +1% → $80.2k: sell 515 BTC
• +2% → $81.0k: sell 1,196 BTC
• +3% → $81.8k: sell 2,015 BTC
• −1% → $78.7k: buy 337 BTC
• −2% / −3%: buy 531–598 BTC
Walls today
• Resistance: $80k ($22.2M call wall) → $81k → $82k
• Support cushions: $79k then $78k
• Gamma flip is way down at $66.2k — not the intraday pivot
• Max pain $69k — only relevant if we flush
This week into 4 Sep
• Regime: TRANSITION
• Gamma flip: $78,490 (only ~1.2% below spot)
• $78k and $77k are trapdoors (negative GEX) — drops can accelerate if those break
• Biggest weekly call wall: $82k ($24.1M)
• Weekly max pain: $70k
• P/C OI 0.53 → book is call-heavy further out
How I’m reading it
1. Friday = fade $80k, buy $79k–$78.5k as long as 0DTE positive gamma holds.
2. A clean break and hold above $80k still meets dealer sell flow into $81k–$82k. Don’t chase the first poke.
3. Invalidation for the range thesis: lose $79k, then $78.5k. That’s where weekly flip + trapdoors can turn a dip into a fast move toward $77k.
4. This is flow pressure, not guaranteed volume. Spot/perps can overpower it on news.
