From Bloomberg: On Thursday, a combined $74.5 million worth of Amazon call options expiring in January and March changed hands, divided between two block trades. Almost $52 million worth of bullish Facebook options expiring in the same months traded in two transactions. Roughly $25 million was spent on similarly dated Netflix calls in two blocks, […]
Market Analysis
JPM Gamma Update
We present updated gamma figures from JPM this morning. It syncs with our AM note that 3300 is the key level.
Options Action around a Wild Wednesday
The market was wild today with ES futures having moved almost 90 points from the overnight lows. Negative news about stimulus and vaccines halted the risk and the market broke sharply down to the key 3350 area. You can see below on the chart exactly how our two major levels fit into todays action.
Nomura Gamma 9/29/30
From ZeroHedge While JPMorgan could not agree last week if the month-end pension and fund flows (which according to one JPM quant at $200bn would be the largest forced selling since March, and according to another would be a “tailwind” for equities) would be positive or negative for stocks, one look at market gamma suggests that contrary […]
SQ Profile
SQ has been off to a strong start lately, with our model picking up 160 as a major area in the stock. You can see that above there gamma is positioned to support a shift into the 180 area. Below 160 we think the stock has more limited downside do to the concentration of calls/puts.
ES Futures 9/22/20
ES futures bounce off of our 3267 low and close right on the ZeroGamma level. Our levels are noted at left in the “Gamma” column. This is the Bookmap trading system.
ORCL Launch?
One of the names catching headlines recently is ORCL. They have a conditionally approved deal to takeover TikToc, and that appears to have call buyers excited. In the chart below our “Hedge Wall” (blue dotted line) is at 60 – this is a key support/resistance level in the name. Note the blue call gamma line […]
How a retail options craze fueled SoftBank’s ‘whale’ trade
FT article shines light on what we said: Softbanks wasnt so much of a whale. …retail traders have together spent almost $40bn on similar trades just over the past four weeks, according to Sundial Capital Research. Dean Curnutt, the chief executive of Macro Risk Advisors, a derivatives strategy firm, said those millions of retail traders […]
Nomura September Update: It’s Not Over Yet
Nomura Warns “Vol-Control” Funds Continue To Drive Incremental “Sell Flows” Simply put, Nomura’s MD of Cross-Asset Strategy, Charlie McElligott, warns, it’s not over yet… Yesterday was a reminder on the magnitude of the $Gamma clean-up that is being worked out of by the US Eq Vol Dealer community as per the 50-handle S&P mush-down in the final […]
No, Softbank Didn’t Weaponize Options Gamma
One of the biggest stories at the moment is that of Softbank and their massive options positions which many are attributing to the markets large runup in late August. There are a ton of stories and opinions floating around on this topic and we thought it warranted a bit of mapping to clear some truths […]