The Gamma peak? The recent run-up in big tech was exacerbated by call buying and the resulting gamma hedging in the underlying #stocks. That has now reversed…

The Gamma peak? The recent run-up in big tech was exacerbated by call buying and the resulting gamma hedging in the underlying #stocks. That has now reversed, with the top 10 stocks in the SPX down 12% while the bottom 490 are down 4%. pic.twitter.com/g3LsdKmOQZ

— Jurrien Timmer (@TimmerFidelity) September 14, 2020