Cryptocurrencies: 5,988
Markets: 545
Marketcap: $ 539.84 B
24h Vol: $ 70.91 B
BTC Dominance: 60.99%

Global market data

Cryptocurrencies: 5,988
Markets: 545
Marketcap: $ 539.84 B
24h Vol: $ 70.91 B
BTC Dominance: 60.99%

[ZEROHEDGE] Gamma “Call Wall” At 3,600 Means Dealers Will Sell S&P Breakouts

Zero Hedge

Gamma “Call Wall” At 3,600 Means Dealers Will Sell S&P Breakouts

Tyler Durden

Mon, 11/16/2020 – 08:41

Usually dealers are blamed when they are in a negative gamma position and are forced to sell down risk during sharp market drawdowns, thereby accelerating market drops. Well, this time it’s the opposite: with stocks attempting to stage a breakout above 3,600, it will be the dealers that hold the S&P back, due to a peak gamma position which our friends at SpotGamma calculate is at 3,600.

In their morning note, SpotGamma writes that its 3600 target appears to have been achieved as futures are markedly higher at 3615 on the back of the positive Moderna news.

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