SpotGamma

We analyze options flows to see how it drives stock.
View our free FlowPatrol report:

[SpotGamma @spotgamma]

Why is Strategy selling bitcoin? MSTR's volatility surface answered months ago: the call skew that funded the machine is gone. SpotGamma breaks it down. https://t.co/FK1iJeHDYF

[SpotGamma @spotgamma]

@FeroceResearch yes total flip. i’m thinking iv rank goes +70 with calls bid….

[SpotGamma @spotgamma]

@4blkswans look at the chart and count

[SpotGamma @spotgamma]

Puts are at their cheapest of the year.

With CPI/PPI on deck tomorrow/Thurs, 1-month 25 delta $SPY puts sport a 14% IV - the lowest IV since Dec '25.

[SpotGamma @spotgamma]

@judgtwi you could be correct. i wont really short until/unless SPX <7680

[SpotGamma @spotgamma]

@dampedspring if they did it to leopold then won’t thems do it to saylor too

[SpotGamma @spotgamma]

$SPCX positive gamma increased above as traders mined the rich call skew. This should translate into upsdie resistance particularly into the darkest areas of the map.

Not the downside strikes had negative gamma, but that has flipped as traders went from long puts to short.

[SpotGamma @spotgamma]

$SPCX traders have been selling calls (generating blue on the map above) and buying puts (generating red below). 

This gives dealers positive gamma above (resistance >=120) and negative gamma below (potential selling pressure into 90).

[SpotGamma @spotgamma]

Why is Strategy selling bitcoin? MSTR's volatility surface answered months ago: the call skew that funded the machine is gone. SpotGamma breaks it down. https://t.co/FK1iJeHDYF

[SpotGamma @spotgamma]

@HansCashFlow people like selling puts in these things

[SpotGamma @spotgamma]

@d3nnis i feel like it’s all dependent on iran

[SpotGamma @spotgamma]

SPX term structure showing CPI & PPI this week (wed/thu) are pricing in some vol (light teal line).

The whale is Jackson Hole at the end of the month.

[SpotGamma @spotgamma]

it was sell vol to buy bitcoin

now it’s sell bitcoin to cover credit

[SpotGamma @spotgamma]

Why is Strategy selling bitcoin? MSTR's volatility surface answered months ago: the call skew that funded the machine is gone. SpotGamma breaks it down. https://t.co/FK1iJeHDYF

[SpotGamma @spotgamma]

@XennialTrader @IssaiahDEnward @30AFloridaMan true. didn’t break up. it’s still negative above.

[SpotGamma @spotgamma]

SPX has positive gamma BELOW and negative gamma ABOVE.

Your claude-based naive GEX probably doesnt tell you this...

[SpotGamma @spotgamma]

@hstaater that looks like some kind of small lot algo not necessarily retail…

[SpotGamma @spotgamma]

saylor bought the api feed didn’t he

[Watcher.Guru @WatcherGuru]

JUST IN: 🇺🇸 President Trump says "crypto is a big deal."

"I see more and more where people are paying with Bitcoin. They don't even know about cash anymore."

[SpotGamma @spotgamma]

@MartinShkreli martin is explaining limit orders to his associate

[SpotGamma @spotgamma]

@SwanDeviation i don't see resistance above vs positive gamma which often keeps ranges tight.

we can trend today which is the setup im watching for

[SpotGamma @spotgamma]

Look at this @CBOE put/call ratio chart and tell me when 0DTE started

[SpotGamma @spotgamma]

@Barchart i think this video makes people think the $100k is a joke. they don’t realize that part is real.

[SpotGamma @spotgamma]

@CestrianInc don’t you dare draw a trend line from covid high to recent high

[SpotGamma @spotgamma]

the surge of levered etf assets on the tech run-up was incredible + $100bn change in a month…

then -$100 bn in a month.

“swelling pools of tail risk”

[SpotGamma @spotgamma]

this was a very interesting discussion but missed a key point about stock prices, particularly in the short term:

you can’t only assign a fundamental narrative to stock prices with such massive leverage: $22bn of levered ETFs, biblical korean margin calls, and a hedge fund exploit.