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The 7,700 Line That Flips the Whole Market's Gamma

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Chapters17 segments · tap to seek
ticker lesson

Breakdown

0:00lesson

Risk level at 7700 and gamma dynamics

  • Risk level at 7700 for three to four weeks
  • Negative gamma below 7700 (red), positive gamma above (blue)
  • Zero DTE positions dominate with call spreads
  • Resistance at 7730-7740 levels
1:42lesson

Volatility and VIX expiration dynamics

  • VIX expiration today with market buoyancy
  • VIX options expire tomorrow at 9:30
  • VIX spike linked to S&P movement
  • VIX position changes due to volatility
3:34lesson

VIX call and put positioning

  • VIX calls expiring on Wednesday show net long
  • Banks and dealers short VIX calls
  • Put positions at 16 strike
  • Traders rolled up to 20 strike
5:13lesson

VIX gamma and market dynamics

  • VIX gamma position at 17.8 level
  • Dealers short calls above 17.8
  • Put positions at 16-17.5
  • VIX expiration impact on market
6:48lesson

Three-month skew and market correlation

  • Three-month skew shows market volatility
  • Correlation lifting suggests broader market shift
  • Put wing bid indicates bearish tilt
  • Call skew compression signals risk-off
8:22lesson

VIX gamma positioning and market impact

  • VIX gamma position with hedging via futures
  • Dealers short VIX above 17.8
  • Put protection below 17.8
  • VIX expiration as a pivot point
10:04lesson

Three-month skew and market correlation

  • Three-month skew shows market volatility
  • Correlation lifting suggests broader market shift
  • Put wing bid indicates bearish tilt
  • Call skew compression signals risk-off
11:55lesson

Put wing and call skew dynamics

  • Put wing bid indicates bearish tilt
  • Call skew compression signals risk-off
  • At-the-money options at low levels
  • Implied volatility not lifting much
13:32lesson

Put wing and call skew dynamics

  • Put wing bid indicates bearish tilt
  • Call skew compression signals risk-off
  • At-the-money options at low levels
  • Implied volatility not lifting much
15:09lesson

At-the-money implied volatility and market dynamics

  • At-the-money options at low levels
  • Put wing bid indicates bearish tilt
  • Implied volatility not lifting much
  • Market near all-time highs
16:50lesson

Implied volatility and market dynamics

  • At-the-money implied volatility low
  • Put wing bid indicates bearish tilt
  • Market near all-time highs
  • VIX and implied volatility linked
18:27lesson

Single stock implied volatility and skew

  • Single stock implied volatility high
  • Put skew indicates bearish lean
  • Market near all-time highs
  • Earnings impact on volatility
20:09lesson

Single stock implied volatility and skew

  • Single stock implied volatility high
  • Put skew indicates bearish lean
  • Market near all-time highs
  • Earnings impact on volatility
21:50lesson

Implied volatility and market dynamics

  • SPY IV percentile at 44
  • Earnings and FOMC impact on volatility
  • Elections bring down volatility
  • Market near all-time highs
23:25lesson

Market dynamics and positioning

  • 7700 level as risk-on/risk-off
  • Put skew indicates bearish lean
  • Earnings and macro events impact
  • Options positioning for volatility
25:04lesson

Put pressure and market positioning

  • VIX term structure flattening
  • Put flow shows bearish lean
  • Put spreads as election day trade
  • Mixed positioning in market
26:40lesson

Market digestion and year-end dynamics

  • 7700 level as critical support
  • Earnings and macro events impact
  • VIX and implied volatility dynamics
  • Market digestion point for year-end

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