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S&P 500 Stock Market Gamma Trading Levels Based on Options Open Interest

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Jackson Hole

Aug 23 2026

Volatility Has Compressed. What Happens Next?

SPX term structure chart showing implied volatility declining from 32% to 10% across expiration dates through October 2026.

The S&P 500 pulled back slightly last week, and the market’s recent volatility compression phase appears ready for a reset. With earnings season largely over, both index and single stock volatility have dropped from the elevated levels that prevailed earlier this summer. Our pre-market Founder’s Note on Friday explained how substantial short-options positions cleared with […]

Written by Sherry An · Categorized: Market Analysis, SpotGamma Weekly · Tagged: contango, dealer gamma, forward implied volatility, Gamma Exposure, implied volatility, IWM put skew, Jackson Hole, Kevin Warsh, options positioning, options skew, QQQ call skew, spotgamma weekly, SPX term structure, synthetic gamma

Aug 19 2021

Volatility In The Markets May Rise Dramatically As Jackson Hole Approaches

S&P 500 Implied Volatility Jackson Hole August 2021

The following is a guest post courtesy of Michael Kramer of Mott Capital Management.  Jay Powell will speak at next week’s Jackson Hole Economic Symposium. Some investors think it may be where he lays out the Fed’s path towards the tapering of asset purchases. Recent economic data suggests that inflation is running at levels that […]

Written by developer · Categorized: Guest Post, Market Analysis · Tagged: expiration, Jackson Hole, Michael Kramer, open interest, VIX

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