Calm Now, Vol Later (EP. 12)

On this episode, Joe and Smiddy break down the melt-up into OPEX and why the real move might come after. They explain how gamma is pinning the tape short term, but once it rolls off, positioning gets freed up — setting the stage for potential macro fireworks in August. They talk about the short gamma dealer problem that could push past ATH and dig into McElligot’s "crash” thesis. Plus: trader psychology during slow summer chop, recent wins and losses from the room, and a few rants on overvalued names and $30 sandwiches.

 

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