This was a great chart posted by our friend @ccurvetrading of FSLY stock based on our options data. You’ll note there was a lot of gamma put gamma set to expire today (8/13) which would be crushed if the stock started a move higher. This may have caused dealers to rapidly cover short hedges. We also noted a distinct change in hedging flows at 80 which we called our “Hedge Wall”.
You can see in the stock chart below there was a >7% gap higher in the stock today, with rejection right under the $80 level.