🔔 **RTB QUICK DROP** | May 22 PM Close
📊 SPX closed +0.37% at 7,473 — positive gamma regime intact, $1.067B notional, SG Index +3.742, eight consecutive up weeks, 18% off March lows
🎯 Key levels: 7,500 Call Wall | 7,440 support (held all session) | 7,395 Vol Trigger | 7,291 Zero Gamma
⚡ Call: Gamma structure remains constructive above Vol Trigger but -$16B HIRO delta flow (largest in 30 sessions) signals dealer selling pressure into close — holiday weekend decay risk elevated heading into Memorial Day
🧮 Greeks: Charm suppressive into long weekend expiry decay; vanna tailwind intact only if VIX stays pinned at 16.7; short call concentration at 7,500 creates mechanical ceiling
⚠️ Risk: -$9B put buying + -$8B call selling in HIRO with $2B longer-dated put demand beyond 0DTE — not pure 0DTE noise; WTI back at $100.35 re-approaching neg gamma amplifier threshold; Fixed Strike Matrix showing unusual short-dated downside vol bidding at 7,300 strikes ahead of holiday weekend
— Ring the Bell Trading 🔔 | @rtbtrading1
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