“The S&P snaps lower violently as the dealer hedging that propped it up flips into forced selling once the record call positions unwind, with no fundamental floor underneath.”
“this is S&P call volume... stuff like this makes me really, really concerned because it's all a giant, you know, just a giant like gamma trade... at some point, if there's a problem, the reverse is really, really bad.”
Prices are point-in-time snapshots from the named provider. The verdict compares the return since entry against the band above.