4000SPX is magnet for Friday 9AM

S&P 500SP

Description

⋅ Jan 18, 2023 2:41 PM

Quick follow up to my 1-3 month analysis found here.

My vol premium selling thesis from that analysis has footprints in the SPX options chain.
This can be seen in the JAN20 SPX expiry 4000 strike.

The amount of puts and calls could theoretically cancel each other out but over 300k options on the strike.

I expect to stay in the ranges I outlined at least until Friday.

S&P dealer gamma exposure remains positive.

Today is Vix Expiration, but I think that was front run on Friday last week.

You know the drill.

Keep Calm and 4k On

Comment

⋅ Jan 18, 2023 5:36 PM

Vix Expiration was nothing short of a gran slam if you held puts.

Calls outnumber the Puts at 4k strike by a significant margin so I expect some volatility over the next few days.

Comments

BostonMinh

⋅ Jan 18, 2023 2:55 PM

S&P dealer gamma exposure remains positive: could you plz show where you find the total gex?

SPYvsGME

⋅ Jan 18, 2023 3:04 PM

@BostonMinh, sure. I get it from a site called squeezemetrics. A lot of my study of markets revolves around the implied order book found on the same site.

BostonMinh

⋅ Jan 18, 2023 6:57 PM

@SPYvsGME, Thank you very much for generously sharing the source. I think that site requires membership fee to access the data right?

xdomingu

⋅ Jan 20, 2023 2:17 AM

@BostonMinh, The implied order book pdf if you search for it. This is the "bible" for understanding all this gamma/delta wealth of knowledge. There so much gold in this post.

SPYvsGME

⋅ Jan 20, 2023 2:26 AM

@xdomingu, and anything Cem Karsan. His macro insight from the real street view is invaluable to connecting the dots.