In The OPEX Effect: June 2024, Brent Kochua and Jack Forehand discuss the impact of options expiration (OPEX) on market volatility and specific stocks, such as Nvidia. During periods of low market volatility, significant call positions expiring can lead to increased market movement and volatility. They mention the influence of JP Morgan’s collar positions on the […]
OPEX
Unpacking May OPEX: How Will Low Volatility and NVDA Earnings Shape The S&P 500?
Key Points: A Brief Synopsis: Large call positions are driving low volatility into May options expiration. The expiration of call positions lines up with several key data points (Fed Speaking, CPI) which may cause volatility to briefly expand into the end of this week (Friday, 5/17), and into VIX expiration & NVDA earnings on 5/22. […]
The OPEX Effect: Feb Edition
SpotGamma Founder, Brent Kochuba, talks about the extreme call skews, and why that may lead to some stock price consolidation into the end of February.
The OPEX Effect: November 2023
Listen to “The OPEX Effect” podcast – targeted to those of you will investing time frames past a few weeks. Here we cover some interesting trends in equity volatility, and breaking its link to interest rates. Also some call buyers in both the Magnificent 7 & cryptos.
October OPEX – SpotGamma Views + OPEX Download
Enter your email below to receive our latest OPEX spreadsheet, which details the size and activity of the options positions for top stocks! In the video below, Brent, Founder of SpotGamma, and Imran of Options-Insight, discuss the dynamics heading into this weeks October Monthly expiration. Specifically they cover the impact of geopolitics on volatility, the […]
October OPEX Effect with Excess Returns
Trade Analysis: ES Futures (September 19, 2022, Post-Expiration Monday)
The following is a guest post from Doug Pless. Preparation When I plan to trade futures, I begin my morning preparation by reading the SpotGamma AM Founder’s Note. For ES futures, I note key Gamma levels for SPX and SPY, the SpotGamma Imp. 1 Day Move for SPX, the SpotGamma Gamma Index and Gamma Notional […]
April 2022 Expiration Update
Yesterday we spoke with options expert Imran Lakha about the hedging flows tied to April OPEX. Currently, SpotGamma sees roughly 40% of total SPX/SPY/QQQ Gamma expiring by Thursday’s close. We also see roughly 50% of single stocks having their largest gamma position expiring on Thursday, too. For a list of S&P500 constituents most effected by […]
January OPEX: TSLA Tracking
SpotGamma has detected a large amount of call options expiring this Friday in many single stocks (see here). The stock with the largest size (on a delta basis) expiring is TSLA. As such, we’ve setup this page to track the daily change in TSLA’s delta position, to monitor what any options impact may be. In […]
‘Call AAA’: Santa Claus Is Having Sleigh Troubles
Through an options market lens, the following text will add color to some recent market movements.
