TSLA remains a class of its own and is trading in a comfortable zone where dealers act as liquidity providers. Despite the turbulence in the broader market traders reduced their put protections especially at the 920 strike (down to -4.5M from -10M three days ago) significantly.
Removing put protections is a sign of class and being in a comfortable zone? More like complacence about to be schooled. The language has clear bullish bias while claiming to have no opinion on direction.
GammaLab
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@bjorn2z, :) Thanks, I am working on my hidden biases. What can I do to ease your mind little bit? I am not invested in Tesla and the only action I ever took was on the short side. I also am not an EV fanboy and I drive a big old 6 liter V8 truck that is very loud and smells enchantingly like a bathtub full of gasoline ;).
bjorn2z
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@GammaLab, What you can do is compare your Gamma view of TSLA Nov 4 and 5 to last week's. I have asked a few times about the gap between your Oct 27 and Nov 9 reads. I am not interested in the gas/EV debate either. I am only interested in how your gamma view could perhaps be more useful than technicals, since I agreed with you that the gamma tail was wagging the TSLA dog. All I care about is back testing your call barrier magnets, put wall supports, gamma inversions for the last 5 weeks. You flipped from gamma driving price action to saying that there are no directional implications just vol. Weak. I like your original premise. Not the subsequent cop out.