SPX Gamma AM

Good morning!

Please consult the chart above for the most recent gamma levels. Total dealer gamma currently registers at 139MM, gamma "flips" at 4.485 (above = muted volatility, below = expect increased volatility).

I mentioned the strikes at 4510/4520 which are part of a JPM collar. The negative gamma at both strikes diminished overnight due to heavy call buying, which neutralized the put overhang and reduced their significance.
Beyond Technical Analysis

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