VannaCharm Live Stream Recap: Tuesday, February 16th

To promote all the tools and charts on VannaCharm’s live symbol overview page, powered by your own broker, I’ll be streaming the New York open at 09:30 EST / 14:30 UTC every Monday for the coming few months. The next stream will be here: https://youtube.com/live/GT5-L3VgnwY

This post is the first of the series.

• Number of trades: 1

• Trade #1:+Gamma Bounce LONG LOSS (Poor entry)
  

Heading into the open, we saw the 600 strike as the dominant max gamma ‘magnet’ for the day. Indeed, after a small initial chop at the open, the market not only sought this 600 strike but exceeded it. However, after entering the negative gamma regime above 600, the market quickly reversed and sold off in a swift unwind. I attempted a small long expecting a small gamma bounce at 595, but my stop was too tight, and I was a bit early for this ~40p+ long scalp. Despite the loss, we discussed I was green on the day because of the 50p I made in the overnight session.

• Regime: Negative gamma below 600

• Key level: 600 dominant max gamma strike, with 595 and 590 as secondary key gamma levels

Entered a long at visible absorption on order flow around the equivalent QQQ strike 595 gamma wall, with a tight stop just below. The market initially bounced as expected, but the bounce was short-lived and the market quickly reversed and hit my stop.

Entry: 24514.50 Stop: 24500 Exit: 24500 (stopped) Result: -14.50p, LOSS

As always, catching knives is tough, even when using these gamma levels as a guide. I was a bit early on the entry, and my stop was too tight for the volatility of the move. In hindsight, I could have given it more room to breathe or waited for stronger absorption visible on the tape before entering. The key takeaway is that while these gamma levels can provide valuable context and potential trade opportunities, they are not guaranteed to hold, and it’s crucial to manage risk appropriately when trading around them.

These streams are not financial advice nor signals; they demonstrate only how to use the VannaCharm dashboards. Please read our full risk disclosure to learn more.