#VIX #VVIX #SVIX https://t.co/kpb1Lgp2Pv
WOWZA $SPX $6385 with a MASSIVE flip from positive to negative https://t.co/mkYqVFQLEb
Breadth pretty neutral today and fading into the last hour as that big SPX 6400 resistance wall holds but VIX closing down hard today Options flows crazy again today over 63M contracts, no such thing as slow summer Fridays anymore
The S&P 500 hovered just below the 6,400 mark on Friday, putting the benchmark within sight of a fresh closing record after an early-afternoon high near 6,406. A finish above 6,385 would eclipse the index’s previous closing peak. Options activity intensified around the 6,400 strike, where call volume outpaced the combined flow at the two most-active put strikes. Net gamma exposure ballooned 210% to about $1.45 billion, according to positioning estimates, while dealer exposure was put at roughly $2.21 trillion. Aggregate equity-option turnover reached an estimated 63 million contracts, an unusually heavy pace for a summer session. Low volatility accompanied the advance. The Cboe Volatility Index slid 3.3% to 15.33 and VIX futures touched their lows for the week as implied volatility was sold ahead of the weekend. Market-on-close imbalances were modest, with a $66 million sell bias in S&P 500 constituents. Breadth remained neutral late in the day, but traders cautioned that a break of the 6,380 gamma flip level could still spark sharper swings.
