I updated the GEX indicator this morning to include puts & calls so you can visualize the changes in gamma exposure.
If you want to see other tickers, head on over to https://www.spyvsgme.com/.
Once I’m happy with the indicator I will publish the source code.
What I keep seeing is the puts building up lower (80 strike) bringing down the gamma zero strike which is now dropped to 100.
With prices creeping up back over 100 yesterday, it could mean less volatile price movement as positive gamma exposure is typically less volatile.
Keep in mind, the overall SPX & NDX are still in very negative gamma so it's likely there will be more choppy waters ahead.
This leads to great opportunities for traders with their head & shoulders upside down.
Yesterday the intraday on SPY presented an inverse head and shoulders that paid out exactly to the 161.8% fib extension.
Futures are all over the place this morning.
GME seems to be weathering the storm.
It's kind of poetic, that nearly 1yr ago, I was mocked for telling everyone on WSB that I thought the fair value for GME was $100 given everything that happened.
One interesting development I noticed yesterday was CHWY was positive and ran 13.7%.
Curious what the sentiment shift is in relation to GME anniversary. Is it possible shorts were covering to balance losses in other tech like NFLX and AMZN?
It is an interesting correlation to say the least.
Not financial Advice.
If you want to see other tickers, head on over to https://www.spyvsgme.com/.
Once I’m happy with the indicator I will publish the source code.
What I keep seeing is the puts building up lower (80 strike) bringing down the gamma zero strike which is now dropped to 100.
With prices creeping up back over 100 yesterday, it could mean less volatile price movement as positive gamma exposure is typically less volatile.
Keep in mind, the overall SPX & NDX are still in very negative gamma so it's likely there will be more choppy waters ahead.
This leads to great opportunities for traders with their head & shoulders upside down.
Yesterday the intraday on SPY presented an inverse head and shoulders that paid out exactly to the 161.8% fib extension.
Futures are all over the place this morning.
GME seems to be weathering the storm.
It's kind of poetic, that nearly 1yr ago, I was mocked for telling everyone on WSB that I thought the fair value for GME was $100 given everything that happened.
One interesting development I noticed yesterday was CHWY was positive and ran 13.7%.
Curious what the sentiment shift is in relation to GME anniversary. Is it possible shorts were covering to balance losses in other tech like NFLX and AMZN?
It is an interesting correlation to say the least.
Not financial Advice.
