Sonny
Sonny

Sonny

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Full time trader and investor specializing in Elliot Wave Theory, market psychology and macro cycles.

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Joined on 17th June 2025

Sonny
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SPY + QQQ — Key Dealer Gamma Levels The options structure is worth watching closely here because SPY and QQQ are currently sitting in slightly different regimes. These levels are model-derived estimates of dealer positioning rather than exchange-published positions. SPY 770 — Call Wall This is the major near-term upside gamma concentration. It can act as a magnet or resistance/pinning zone. Importantly, it is sitting almost directly alongside the gamma-neutral area, making 770–772 particularly important. 771–772 — Gamma Flip / Neutral Zone This is the approximate point where dealer positioning changes regime. Above this area → dealers move into positive gamma , where hedging generally suppresses volatility and dampens market moves. Below this area → dealers remain negative gamma , where hedging can amplify moves in either direction. SPY is currently below this level and therefore remains in a negative-gamma regime . 765 — First Put Wall This is the first major downside options conce ... see more
SPY + QQQ — Key Dealer Gamma Levels The options structure is worth watching closely here because SPY and QQQ are currently sitting in slightly different regimes. These levels are model-derived estimates of dealer positioning rather than exchange-published positions. SPY 770 — Call Wall This is the major near-term upside gamma concentration. It can act as a magnet or resistance/pinning zone. Importantly, it is sitting almost directly alongside the gamma-neutral area, making 770–772 particularly import...SPY + QQQ — Key Dealer Gamma Levels The options structure is worth watching closely here because SPY and QQQ are currently sitting in slightly different regimes. These levels are model-derived estimates of dealer positioning rather than exchange-published positions. SPY 770 — Call Wall This is the major near-term upside gamma concentration. It can act as a magnet or resistance/pinning zone. Importantly, it is sitting almost directly alongside the gamma-neutral area, making 770–772 particularly import...