I donโt take inverted charts seriously as analysis. I do take the reaction seriously. Every time Bitcoin starts to recover, these posts come out because a lot of people are still positioned for the last move, not the next one.
Looks like the stock is still working through some resistance after the recent move. Volume picked up on the downside moves, so the pullback has some real weight behind it. Watching to see if it can find a base around here or if we get another leg lower.
325 held as clean support all session, then that gold flip up to 330 and the later one to 332.5 โ price tracked both moves almost to the tick. When the gamma levels line up this tightly itโs a solid reminder of how useful options positioning can be for reading short-term structure.
$SNOW had such a clean GEX Chart on Friday ๐
325 held firmly as support.
Beautiful Gold GEX flip up to 330 โ price followed.
Another flip to 332.5 before end of day โ price followed once again.
$IREN January 2027 $50C is on my radar.
Earnings are behind us, and we already hold shares. Now Iโm looking to add longer-dated call exposure to maximize the larger move. With IREN around $44, the $50 strike is close enough to offer a solid balance between probability and leverage. It also has attractive volume and open interest. The positioning maps show an upside ladder through $50, $55, $60, $65 and $70. The massive January VEX concentration at $110 also reveals significant right-tail skew in the options chain. That does not guarantee a move to $110 it represents the extreme upside path. I prefer the $50C because it can respond much earlier while still benefiting if that upside skew begins activating. Waiting for favorable premium, IV and price confirmation. No chasing.
Data @_marketmono