Why Today's Expiration Could Be a Turning Point

Brent Kochuba lays out why the VIX is getting smoked while stocks catch a bid, and it ties to today's VIX expiration. Dealers are short a wall of VIX calls above 20, so there's a strong pull to keep the VIX pinned below it into expiration, which crushes vol and lifts the tape. He maps the SPX around the 7,700 risk level, where gamma flips positive above to negative below, and warns the days ahead sit in negative-gamma territory, so any shock could amplify. 📊 tastylive: https://www.tastylive.com/ 📰 Get Tom's pre-market analysis every morning: https://www.tastylive.com/newsletters 📘 FREE Options Strategy Guide: https://tinyurl.com/bp9ms763 📱 Follow tastylive on X: https://x.com/tastyliveshow Chapters 00:00 The 7,700 risk level, gamma flips here 00:50 Extending the gamma map forward 01:40 Negative gamma, poised for volatility 02:30 VIX expiration is today 03:10 Why the VIX spiked Friday 03:50 How traders rolled their positions 04:40 Dealers want the VIX pinned below 20 05:40 Why vol gets crushed into expiration 06:40 Expirations as turning points 07:30 The setup into SpaceX and Tesla #tastylive #gammaguy #brentkochuba #spotgamma #vix #gamma #optionsflow #zerodte #optionstrading #stockmarket tastylive is a real financial network, producing hours of live programming every day. Follow along as our experts navigate the markets, provide actionable trading insights, and teach you how to trade. With over 120 original segments, and over 25 personalities, we'll help you take your trading to the next level, whether you are new to trading or a seasoned veteran. tastylive content is created, produced, and provided solely by tastylive, Inc. ("tastylive") and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read all applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange Traded Options Risk Disclosure Statement found at https://tastytrade.com/disclosures/. Past performance is not indicative of future results. Performance is not presented net of all commissions, fees, and expenses. Multi-leg option strategies incur higher transaction costs than single leg trades as they involve multiple commission charges. Examples provided are for illustrative, informational, and educational purposes only and are not intended to be reflective of results you can expect to achieve. Supporting documentation for any claims, including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer.