SpotGamma
@spotgamma
We analyze options flows to see how it drives stock.
View our free Opening Setup report:
277 Following 152.9K Followers
$TSLA options are pricing about a 6.5% move through Friday for tonight's earnings.
It has moved more than that the day after 7 of its last 12 reports. Average move: 9.1%.
META earnings tonight: Is the options market pricing enough volatility? Read up on what the options market is saying, with two defined-risk trade setups:
$SPCX covered calls sold into earnings should be a nice winner as continue to collect premiums on both sides of the stock while holding long term from sub 120 still.
Lots of positive gamma between 155-167 roughly should be tough to get thru this week
Show more
$SPCX reports tonight post-close, followed by $TSLA tomorrow. With rumors of a potential future merger, read how the options market views each company ahead of earnings:
What happens when VIX options expire?
Brent Kochuba of @spotgamma explains how monthly VIX expiration works, why traders must adjust expiring positions before the settlement date and how a sudden volatility spike can change positioning ahead of expiration.
Here's what options traders should understand about this important market event.
#VIX# #OptionsTrading# #TradingEducation#
Show more
Make or break for a lot of the tech complex as we re-visit the Leopold Lows.
$EWY $SMH
SPX 3 month data showing "stage one" of concern.
Put skew is lifting (bottom right) while call skews declining.
However, overall level of IV remains low (top right), in large part due to the SPX remaining just a few percent from ATH.
Show more
Cboe's weekly note says skew jumped on demand for downside protection, with hedging concentrated in AI and chip stocks.
SKEW closed Friday at 168.59, its highest since Feb 2025.
The BuySide mostly sold chip puts. Across 19 semis names and ETFs, they added 758k short puts and 427k long, net 331k fewer. Net puts fell in 17 of the 19.
Show more
Last week's tech selloff: crash, or just rotation? On tastylive this morning we covered how downside has been quickly bought back, with trader risk appetite still present after Friday's drop.
Show more
$GME has seen nearly $100M in insider buying led by Ryan Cohen recently. What's he positioning for?
Read our breakdown of potential catalysts, squeeze dynamics, elevated options volatility, and key levels traders should be watching.
Show more
$SPCX earnings tomorrow
$TSLA $META wed
they fail to identify tenor of the volume: 2/3 of call volume was 10/21 exp
What drove that wild VIX move on Friday?
How is VIX positioned now, with VIXExp on Wed?
The VIX surged on Friday. Was the options market signaling a bigger crash?
Brent Kochuba, Founder of @spotgamma , says the spike wasn't necessarily what it appeared to be.
With roughly 1.8 million VIX calls traded, Brent explains how short-dated options positioning helped fuel the move, and why the activity may be less concerning than a surge in longer-term downside hedging.
Show more
What drove that wild VIX move on Friday?
How is VIX positioned now, with VIXExp on Wed?
Put buying has picked up as the VIX jumped above 20 on Friday. How could this play out for the start of earnings season? Read our full weekly breakdown:
$ORCL fell 4.6% Friday and 9.4% on the week.
BuySide net calls slipped 3.6k, but call premium rose $4.2M.
They traded up into pricier calls. Biggest single trade was 6.5k Oct 30 135 calls bought, with ORCL at 128.
Show more
VIX options traded 2.44M contracts Friday, the most in a year and 3x average.
1.85M of that was calls. 1.2M of that was tied to 10/21 exp.
Only Aug 2, 2024 had more VIX call volume (since Oct '19).
Show more
Only 9 days had a bigger VIX move relative to the -1.1% SPX move
weird.
SPX vol really woke up here, suggesting hedges coming in. This is day over day change in 1-month skew
