Here’s the updated explanation including the options chain dynamics:
If SoundHound AI is trading near $10, the structure has already shifted.
Options chain context:
Call-heavy positioning (Put/Call \~0.5) → bullish bias
Major Call Wall was at $8 → now broken
Strong Open Interest in May expiration → event-driven pressure
Below: Put Wall around $6 → downside support zone
What changed above $8:
Market makers had to hedge aggressively → gamma squeeze effect started
Large call OI above $8 gets activated → continuous hedging demand
Shorts get squeezed simultaneously → dual pressure (gamma + shorts)
Current situation at \~$10:
Price moved into a low-resistance zone above the call wall
If new call OI builds higher (10–12$ strikes) → squeeze can extend
If OI is thin above → move can stall quickly
Key levels now:
$8 = critical support (former call wall)
$10–12 = next area where new call OI decides continuation
Reality check:
This is already an active move driven by options + short pressure, not a setup anymore.
Conclusion:
Break of $8 triggered the mechanics. At $10, continuation depends on new call positioning and sustained volume, otherwise the move fades.