I was watching the tape. some of those buy sweeps were extremely unusual and unordinary. huge 10 million dollar blocks of call strikes two thousand points out of the money is extremely odd. ok yes, and go ahead and discount my comment as silly if you will I don’t mind and I expect it. But yes “contextually sellers had everything in their hands to cause damage” however I’m not so convinced that sellers were weak and allowed the reversal back to yesterdays VPOC. something unnatural happened. the administration and treasury secretary’s speeches aligned with the 10 year auction and the FOMC minutes. And that’s when the tape started behaving like that. That’s not normal. That’s intervention. That’s the plunge protection team. And it’s not a conspiracy theory. It’s real. It was announced today that the NY Fed officially had been intervening in FX markets very recently. Ok I’m done. Feel free to trash my post.
I saw massive orders at 15:58:38. My best guess (which aligns with your theory) is due to gamma (gex) positioning for market makers. If 7850 broke, there would have been a negative gamma liquidation break. Market makers wouldn’t let that happen as they were already -30 mil in gex exposure so they were recycling every sell order that came in. It was quite the battle
@Matteo @Seth Lewis 34 million Gex at 7850. Second biggest wall is 7875 at 23 million gex. It’s positive gamma above 7850 so we may see another attempt like Wednesday where sellers try to push below 7850 but dealers won’t let it drop
and back to 7850. edit, back to 7875. with positive gamma will most likely grind to there as I don't think bears have enough in the tank to sell down in positive gamma
https://menthorq.com/ MenthorQ offers EoD and Intraday gamma levels for ES. I use the ES dealer summary and options matrix/heatmap/exposure to get the market structure for the day like market maker floors and ceilings, 1 day min and max levels, blind spots, and most importantly GEX. I not sure how they derive it, but it’s saved me quite a bit for deceptive days/hours like that
From me, and all the Franks, Thank you Smash !
Thanks Smash!
Thanks Smash🎯
Thanks. Think you meant Tuesday’s range in the last sentence
Ah, typo! Thanks!
That’s what I’m here for.
Thank you Smash!
Thank you
Thanks smash great levels
You are a master
Thanks Smash!
I was watching the tape. some of those buy sweeps were extremely unusual and unordinary. huge 10 million dollar blocks of call strikes two thousand points out of the money is extremely odd. ok yes, and go ahead and discount my comment as silly if you will I don’t mind and I expect it. But yes “contextually sellers had everything in their hands to cause damage” however I’m not so convinced that sellers were weak and allowed the reversal back to yesterdays VPOC. something unnatural happened. the administration and treasury secretary’s speeches aligned with the 10 year auction and the FOMC minutes. And that’s when the tape started behaving like that. That’s not normal. That’s intervention. That’s the plunge protection team. And it’s not a conspiracy theory. It’s real. It was announced today that the NY Fed officially had been intervening in FX markets very recently. Ok I’m done. Feel free to trash my post.
I saw massive orders at 15:58:38. My best guess (which aligns with your theory) is due to gamma (gex) positioning for market makers. If 7850 broke, there would have been a negative gamma liquidation break. Market makers wouldn’t let that happen as they were already -30 mil in gex exposure so they were recycling every sell order that came in. It was quite the battle
Wish I could send photos, would make it a little easier
@Matteo @Seth Lewis 34 million Gex at 7850. Second biggest wall is 7875 at 23 million gex. It’s positive gamma above 7850 so we may see another attempt like Wednesday where sellers try to push below 7850 but dealers won’t let it drop
and gex just flipped to 7875
and back to 7850. edit, back to 7875. with positive gamma will most likely grind to there as I don't think bears have enough in the tank to sell down in positive gamma
Do you prefer mentorQ to spotgamma or other services? Have you tried others? I’ve had both. Currently don’t use one.
I've tried unusual whales, tradytics, spotgamma and menthorq. Menthorq is my favorite
Could be part of a box spread. Are you referencing SPX. If so, what time did they print and what tenor and strike?
https://menthorq.com/ MenthorQ offers EoD and Intraday gamma levels for ES. I use the ES dealer summary and options matrix/heatmap/exposure to get the market structure for the day like market maker floors and ceilings, 1 day min and max levels, blind spots, and most importantly GEX. I not sure how they derive it, but it’s saved me quite a bit for deceptive days/hours like that
As stated on their website, “The only platform with native Futures Options Gamma Levels.
We calculate Gamma Levels directly from Futures Options chains: ES, NQ, RTY, CL, GC, and more. Real data. Real positioning.
Direct Futures Options chains
Not derived, not mapped from equity options. Calculated natively from futures market data for maximum accuracy.”