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Today's observation: This up and down liquidity monkey business...
I watched for half a day today, and it's difficult to draw conclusions from the data.
The order book's pending orders are balanced, and the price difference is relatively balanced as well..
The skew I have been observing over the weekend is still operating in a slightly negative neutral zone. This wave has operated in the -10 to -15 range and has not moved down for now. I can only continue to observe.
The only thing that is somewhat relevant to today's market is GEX.
Currently, the two positive gamma peaks are at 90k and 86k, so the positive gamma damping zone at 90k is causing the temporary inability to break through 90k.. This wave of positive gamma is mainly influenced by the giant option on the 26th.. So it will likely take until after the 26th delivery to reveal the cover..
The 86k positive gamma is influenced by the options that will expire tomorrow... It will be released at 4 PM tomorrow...
So now, it is highly likely that it will oscillate between 86k and 90k in the next 24 hours..
Unless the US stock market experiences a Christmas rally... with a large buy or sell order breaking through these two positive gamma zones..