Dealer Positioning and GEX
Today, we saw a massive market rally in response to positive news regarding Iran, China-US trade, and bond yields/inflation expectations. Our personal favorites, Nebius (+5%), AMD (+10%), and Intel (+12%), all rose upward on the optimistic sentiment shift. With a week full of catalysts, it is a must to understand Gamma exposure amongst any company you are trading and dealer positioning. So let’s break down what we see as of today (as always, GEX changes daily, so always be sure to update yourself daily)
Also a note specifically for this week, due to there being a plethora of catalysts occurring over the week these GEX levels are not something to live and die by as the news that comes out over the week will trump any call or put walls; on that front we remain bullish on the outcome of said catalysts. However this information is still useful in understanding how the market is expecting stocks to move.
Nebius
Nebius currently sits at a close price of 232.80, and with the current GEX exposure, we see a concentration of call OI at the 250 strike for this Friday and a concentration of put OI at 220 for this Friday as well.
Above $213, we are in a net dealer positive gamma zone indicating less volatile swings as dealers move against the trends.
