Post Op-Ex Market Melt-Up: "Everyone Has Crash Down Risk Protection, Nobody Has Crash Up"
May 20th 2021 1:09pm EDT
Post Op-Ex Market Melt-Up: “Everyone Has Crash Down Risk Protection, Nobody Has Crash Up” As discussed earlier, a quick look at the “gamma tilt” in markets, suggests that there is more downside risk than upside ahead of tomorrow’s sizable op-ex, which sees roughly 30% of dealer Gamma drop-off in SPX / SPY consolidated options, but […]
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