Gamma
Posts about gamma exposure, gamma flips, dealer positioning, and gamma scalping.
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One dealer position explains both VIX mechanics
The VIX usually bleeds into its expiry. When it does go, it goes violently. The same dealer positioning explains both.
The VIX is a one-way street
The VIX is the most one-sided book in the entire market. Once you see it, a lot of the VIX's odd behaviour starts to make sense.
Vol catching a bid on META's rally is the tell
Vol is catching a bid on the way up.
Why tech vol isn't going back to old baselines
Every day into the close, there's a mechanical flow running through the tape.
The invisible gamma driving these parabolic moves
A market-structure read on why these parabolic moves are getting more violent.
The mindset shift that makes options click
A mindset shift that changes how you think about trading options.
Why "good earnings" stocks often dump the next day
VANNA works in opposite directions for the index versus single stocks. Same mechanic. Mirrored positioning. Opposite outcomes.
One of the most reliable post-earnings setups
Setup: a stock is rallying into earnings. Skew shifts hard toward calls. Implied vol on upside strikes is bid. Retail and momentum funds are piling into upside calls.
Three conditions before I sell premium
Implied vol sitting above realized vol. Variance premium right there for the taking. Simple, right?
The signal hiding inside implied vol
Stock hits a new high. You think it's bullish. But what's implied vol doing?
Crashes don't start from the top
"Buy protection when markets are euphoric and everyone's greedy." Every beginner trading book says that.
Video lesson: you are missing a key part of the puzzle...
If you’re chasing the move instead of understanding the "under-the-hood" vol dynamics, you’re missing a key part of the puzzle.
Gamma flip is not a trade
A lot of traders think finding the gamma flip level is edge. It just simply isn’t.
Lesson: being right on volatility isn’t enough
Last week I was long the daily SPX straddle around $40 going into the jobs number...