Robert P. Balan

Front-Loaded Gamma Buffer Supports SPX Into Next Week, But Rebalancing Pressure Builds Risk Into Month-End

June 18 Updates: 1, 2, 3, 4

June 18 OPEX: Divergent A.M. and P.M. Regimes Driven by Dealer Hedging Priorities

June 17 Update: 4

June 17 Updates: 3 -- Gamma and Delta flipped to Negative; this is a significant deterioration from earlier today

June 17 Updates: 1, 2

June 17 FOMC & June 18 OPEX: Heavy Defensive Positioning and the Coming Hedge Unwind

June 16 Updates: 1, 2, 3

June 16 Pre-Market: Choppy with a mild downside bias on failure to hold above 7525

June 15 Update: 2, 3 (SPY), 4

June 15 Updates: 1 -- meaningful bullish shift in the structural positioning

June 15 Pre-Market: Mildly constructive early, but choppy and volatile; initial strong pinning at 7525