by ricardo@optionelements.es | Jul 27, 2021 | Sin categoría
Futures have pulled back to 4403 after putting in a low of 4390. 4400 remains the Call Wall, with large support at 4379. We do note a tick up in gamma at strikes overhead (4450,4500) but they are still smaller than 4400 in positive gamma terms. All eyes are on the Fed... 
by ricardo@optionelements.es | Jul 26, 2021 | Sin categoría
Futures took a dip to 4375 overnight but have recovered to 4400. 4400 is the largest gamma strike on the board, and also remains the Call Wall resistance line. We therefore see the options market pricing the SPX “fair value” at 4378 support to major resistance of... 
by ricardo@optionelements.es | Jul 23, 2021 | Sin categoría
Futures have pushed higher to 4380 which places the SPX near its 4400 Call Wall resistance line. Our gamma index is flat overnight, which implies another tight trading range of 71bps/31pts. For today we detect large support at 4382 and 4350. Below is a chart of gamma... 
by ricardo@optionelements.es | Jul 21, 2021 | Sin categoría
Futures were flat overnight in a stark change from the last several days. Our models show a very flat gamma index for today, with the gamma flip line at 4320. 4300 is major support, with resistance at 4350 and then 4376. As you can see below we have two large gamma... 
by ricardo@optionelements.es | Jul 20, 2021 | Sin categoría
Futures extended gains overnight to 4270. Our models call for a lot of volatility today. Markets open with a strong negative gamma position, with 4300 showing as the key gamma flip level and major resistance, with 4330 the only level above that. Support shows at... 