11/08/2024
Dynamic Trend Gamma
Friday November 8th, 2024 - $SPX
Please note these Gamma Levels are calculated prior to the opening.
The $SPX opened higher with a gap. Right from the open, the Options Volume Sentiment was building up on the call side.
This enabled the $SPX to rally to the Largest Gamma level at 6000. After a brief pullback, the Sentiment switched back to Calls again, enabling the $SPX to trade to the next higher Gamma Level for the day at 6010.
Identifying the LARGEST GAMMA Level is critical, as the markets tend to test it frequently.
Sometimes the Indexes tend to trade one level higher than the Largest Gamma Level if the CALL Sentiment remains strong.
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