SpotGamma Research Hub

SpotGamma research highlights a market landscape defined by AI-fueled euphoria, specifically pointing to a 36% surge in semiconductor ETFs driving indices to record highs. Technical analysis reveals that this momentum is heavily influenced by 'squeeze dynamics' and elevated 0DTE options activity, which continue to trigger intraday gamma flips that accelerate price swings. A critical observation is the extreme call skew on NVDA, currently at a 99.2% rank, signaling intense speculative positioning. As monthly OPEX approaches, the research warns that the stabilizing effect of dealer hedging is set to diminish. Consequently, the firm anticipates a potential surge in volatility following May 20, as the underlying options architecture shifts from providing liquidity to amplifying market moves.