Market Overview Archive

Negative gamma across index complex with

Negative gamma across index complex with steep VIX contango - trend-following intraday, sellers still paid

Negative gamma across index complex with steep VIX contango - dealers amplify moves but vol sellers still favored

Negative gamma across index complex with

Negative gamma across index complex with

Negative gamma across index complex with steep VIX contango - dealers amplify moves while carry favors vol sellers

Negative gamma across index complex with steep VIX contango - dealers amplify moves but carry favors vol sellers

Negative gamma across index complex with SPY pinned at gamma flip

Positive gamma cushion holds SPY/QQQ; IWM slips below flip - small-caps the fragile leg

Steep contango, low VVIX

Low-vol carry regime

SPY pinned at gamma flip

Negative gamma across index complex with VIX contango - dealers destabilizing near

Negative gamma across index complex with spot pinned near

Negative gamma across index complex, spot pinned at flip

Index complex pinned at gamma flip with

Negative gamma across index complex with VIX in contango - dealer flow amplifies moves

Negative gamma across index complex with spot pinned at flip

Negative gamma across index complex with

Negative gamma across index complex with steep VIX contango

Negative gamma index complex with steep VIX contango

Negative gamma across index complex, but

Negative gamma across index complex with contango vol - dealer amplification below

Negative gamma across index complex with SPY pinned below flip

Negative gamma across index complex with VIX contango - dealers amplify moves, but vol sellers still favored on carry

Negative gamma across index complex with steep VIX contango - dealer amplification live, but vol carry favored

Negative gamma with steep contango - dealers amplify, but

Negative gamma at

Negative gamma across index complex with

Negative gamma across index complex with

Negative gamma across index complex with

Negative gamma across index complex; SPY

SPY pinned at gamma flip

Steep contango with SPY pinned at flip

Positive gamma cushion holds SPY above flip, but IWM small-cap tape flips negative - divergence brewing

Deep positive gamma cushion, steep VIX contango, VRP negative - carry-friendly but skew flags asymmetric downside

Positive gamma across index complex with steep VIX contango - carry regime intact, spot pinned at

Deep positive gamma with steep VIX contango

Positive gamma across index complex with steep contango - carry regime intact but IWM fragile

Positive gamma cushion holds SPY above flip; VIX at

Deep positive gamma with steep VIX contango - dealers dampening moves above flip at

Deep positive gamma across index complex with

Positive gamma cushion holds with SPY

Low-vol carry regime - SPY holds

Negative gamma with steep VIX contango and elevated regime

SPY

SPY

Positive gamma across index complex

Positive gamma across index complex with steep contango

Positive gamma across index complex with steep VIX contango - mean reversion regime, IWM the fragile outlier

Positive gamma cushion holds with steep contango - vol sellers favored into

Positive gamma across index complex with

Positive gamma cushion holds with VIX at

Steep contango + suppressed VIX, but SPY pinned right at gamma flip

Spot pinned at gamma flip

SPY

Positive gamma across index complex, IWM the fragile outlier

Positive gamma cushion intact across index complex with VIX at

Positive gamma across index complex, VIX contango

Positive gamma pin under

Positive gamma cushion on SPY/QQQ with steep contango carry - but IWM below its flip is the fragile leg

Positive gamma pins SPY between its walls; steep contango favors carry while IWM slips below its flip

Positive gamma cushion above

Positive gamma cushion above

Negative gamma complex-wide, SPY pinned on its flip at

Negative gamma with steep VIX contango - dealers amplifying moves, but vol sellers still favored past

Negative gamma across index complex with spot pinned at

Negative gamma across index complex with SPY pinned near

Negative gamma across index complex with VIX at

Negative gamma across index complex with contango VIX term - dealers short, moves amplified above

Negative gamma across index complex with VIX popping to

Negative gamma across index complex with VIX popping to

Negative gamma across index complex with

Negative gamma across index complex with VIX contango - dealers amplify moves, but vol carry remains

Negative gamma across index complex with VIX at

Short-gamma index complex under fear regime with

Negative gamma across the index complex with spot pinned at

Relief rally into short gamma: SPY below flip at

Negative gamma complex-wide as VIX sinks into

Full-complex negative gamma under Iran escalation - amplified tape, but contango and positive VRP keep defined-risk vol selling alive

Negative gamma across index complex with VIX pop to

Negative gamma across index complex with VIX spiking to

Negative gamma with spot below flip

Negative gamma across index complex with spot pinned just below flip at

Negative gamma across the complex with SPY

Negative gamma across index complex with elevated VIX and

Negative gamma across index complex with VIX spiking - dealers amplify moves, fade only at walls

Negative gamma across index complex with VIX bid - dealers amplify moves, spot below

Negative gamma across SPY/QQQ/IWM with VIX in

Negative gamma across index complex with VIX spiking; dealers amplify moves below

SPY negative gamma below flip at

Negative gamma across SPY/QQQ/IWM with VIX bleeding lower into contango - fragile calm

SPY positive gamma cushion vs QQQ/IWM short-gamma - divergence is the day's lead story

SPY positive gamma above

Negative gamma in

Positive gamma at index, IWM fragile below flip - VIX bid into geopolitical risk premium

SPY pinned at put wall with negative gamma; QQQ holding positive gamma - index complex diverged at the open

SPY positive gamma cushion intact while QQQ flips negative

Positive gamma cushion intact on SPY at

Negative gamma at

SPY pinned at flip with

SPY pinned at gamma flip in

Positive gamma across index complex with

Positive gamma across index complex with steep VIX contango - vol sellers favored, mean-reversion regime intact

Positive gamma cushion intact across

SPY pinned at gamma flip with QQQ holding positive gamma - divergent dealer regimes amid

Positive gamma cushion across SPY/QQQ holds while IWM slips below flip - divergence is the story

Positive gamma index complex, IWM lagging negative; VIX

Positive gamma index complex with IWM lagging; VIX contango invites vol selling but skew warns tail bid

Positive gamma across index complex with steep VIX contango - vol sellers favored, mean-reversion regime intact

Positive gamma across index complex with VIX at

SPY in negative gamma below flip while QQQ/IWM hold positive - divergence is today's tell

Positive gamma across index complex with steep VIX contango - vol sellers favored, mean reversion wins

Positive gamma across index complex with

Data fetch failed; regime undetermined with

Positive gamma cushion intact at

Positive gamma cushion in SPY/IWM, QQQ short-gamma fragile - divergence is today's lead story

Positive gamma cushion intact on SPY/IWM, QQQ slips below flip - divergence is the story

Negative gamma across complex with VIX at

Negative gamma across index complex with VIX in contango - amplified moves, but vol sellers structurally favored

SPY short gamma below

Positive gamma cushion intact; SPY

Positive gamma across index complex with steep VIX contango - mean-reversion regime intact

Index complex in positive gamma with VIX in

SPY pinned just below gamma flip at

Positive gamma across index complex with steep contango - vol sellers paid, mean-reversion regime holding into close

Positive gamma cushion holds across index complex with

Positive gamma cushion intact across

SPY in negative gamma below

SPY negative gamma below flip with QQQ positive gamma - divergent dealer regimes, contango carry intact

SPY

SPY pinned at put wall in negative gamma while QQQ holds positive - cross-index divergence is today's lead

Positive gamma intact across complex with VIX at

Negative gamma across index complex with

SPY

SPY positive gamma cushion above flip while QQQ/IWM sit short gamma - index complex split

Negative gamma across complex with VIX bid

SPY positive gamma cushion intact above flip; QQQ pinned at flip - divergence is the lead story

Positive gamma across index complex with steep contango - vol sellers favored, spot pinned above flip at

SPY pinned at gamma flip with

Positive gamma across index complex with steep VIX contango - vol sellers in control, mean-reversion regime intact

Positive gamma cushion across index complex; VIX at

Steep contango with SPY short-gamma below

SPY

SPY pinned at gamma flip

Positive gamma cushion intact across index complex with VIX in steep contango at

Positive gamma across index complex with steep VIX contango - vol sellers favored, mean-reversion dominant

Positive gamma across index complex with VIX in steep contango and

Positive gamma across index complex with VIX in steep contango - mean reversion regime, vol sellers favored

Positive gamma index complex with steep contango - vol sellers favored at

Positive gamma across index complex with

Positive gamma cushion across index complex with

Negative gamma index complex with VIX contango

SPY negative gamma below flip at

SPY negative gamma below flip

Positive gamma cushion intact across index complex with VIX at

Positive gamma across index complex with steep VIX contango - vol sellers favored, mean-reversion regime intact

Positive gamma cushion across index complex with VIX in steep contango - vol sellers favored

Positive gamma cushion holds across index complex with VIX easing into

Positive gamma cushion across index complex with VIX cooling into

SPY pinned at flip with VIX in contango - fade extremes, dealer charm destabilizing into close

SPY positive gamma cushion vs QQQ/IWM short-gamma fragility - index complex split

Negative gamma across index complex with VIX at

SPY pinned at put wall

Negative gamma across SPY/QQQ/IWM with spot pinned at

Negative gamma into 0DTE pin with VIX contango - amplified moves, but vol sellers still favored on duration

Negative gamma below

Positive gamma across index complex with VIX in contango - mean-reversion regime, vol sellers favored

Positive gamma cushion across index complex with VIX in contango - vol sellers favored, mean-reversion regime

Positive gamma across index complex with

Positive gamma cushion intact with VIX at

SPY pinned at gamma flip in steep contango; QQQ cushion holds while IWM stays fragile

SPY short-gamma below

Positive gamma across index complex with VIX at

Positive gamma cushion holds as SPY pins

Positive gamma holds across the index complex with VIX in contango

SPY positive gamma above flip; IWM short-gamma laggard; VIX contango with elevated VVIX - fade strength, respect

Positive gamma across index complex with VIX in contango; mean-reversion regime but VVIX creeping

Negative gamma in SPY/IWM with QQQ holding positive - divergence is the lead, vol bid into close

SPY positive gamma cushion intact above flip; QQQ slipped negative - tech the fragile leg

SPY pinned below flip in negative gamma while QQQ/IWM hold positive - index complex diverged

SPY positive gamma at

Positive gamma ceiling at call wall

Positive gamma +

Positive gamma cushion, VIX

Positive-gamma index complex w

Positive gamma anchored at

Positive gamma on SPY/IWM, QQQ

Positive gamma pinning near ca

Positive gamma suppression hol

Positive-gamma SPY cushion vs

Positive gamma cushion intact;

Positive-gamma cushion in SPY

Steep contango + deeply negati

Elevated vol contango with neg

Positive gamma across index co

Positive gamma cushion absorbs