On November 22, 2024, the Cboe Volatility Index (VIX) was reported at 17.29, indicating a relatively calm trading environment. Market analysts noted that dealer positioning is heavily long gamma, which is expected to stabilize market flows and suggest that the S&P 500 Index (SPX) will likely trade within tight ranges. However, if the SPX surpasses critical resistance levels, the current gamma positioning could shift to a bearish outlook, potentially increasing volatility and momentum toward the next pivot zone. A VIX-based signal for zero days to expiration (0DTE) options was triggered, historically correlating with short-term underperformance of the S&P 500. Currently, 0DTE options account for approximately 50% of daily trading volumes. The SPX gamma open interest was noted with a call gamma to put gamma ratio of 1.16 and a gamma flip at 5,928. Additionally, the market breadth appeared strong, with the lowest TICK at +215, suggesting a potential trend day as long as the VIX remains stable. The VIX has decreased by 7% in spot price, with expectations of further declines to around 14 next week.