by ricardo@optionelements.es | May 29, 2020 | Sin categoría
The data overnight has us putting a hold on the bull case. Futures are consolidating in the 3025 area, with gamma levels lower. Most notable about the data overnight was the drawdown in gamma at both 3050 and 3100 (strike change charts here). It appears this drawdown... by ricardo@optionelements.es | May 28, 2020 | Sin categoría
Futures are roughly flat to where we closed, with a jobs report out later this morning. The SG Index shifts a bit more positive and the High Gamma strike moves to 3050 which is a good sign for bulls. The Vol Trigger and Zero Gamma level both converge around 2960 which... by ricardo@optionelements.es | May 27, 2020 | Sin categoría
Futures were fairly volatile overnight trading to 3020 -> 2985 ->3035. The SG Index and gamma notional readings both shift more positive. I have to admit that this is an unusual setup. First, options volume continues to be somewhat dominated by the weekly... by ricardo@optionelements.es | May 26, 2020 | Sin categoría
Futures used the holiday market to jump up and tag 3000. This creates an interesting situation now for the S&P500. First, we see the SG Index shift negative which is in contrast to Net Gamma readings which are higher. Why? If you look at the OI change you can see... by ricardo@optionelements.es | May 22, 2020 | Sin categoría
Futures tested 2900 overnight and held the zero gamma level (2905). We have jobless claims this AM which may impact markets before the open. 2950 sets up as resistance, and 2900 as “cautious” support. I say cautious because while there is large open... 