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/ #POST-241981
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$SPCX stuck in the gamma trap between 125 and 140, anyone else watching this?
Been following $SPCX and today's 5%+ drop kinda makes sense once you see the options structure. It's sitting below the gamma flip around $125.4, which puts it in short-gamma territory where dealer hedging just makes every move choppier. Put wall at $125, call wall at $140, so it's basically pinned in a range heading into the July 24 expiry.
Pulled up the chain on moomoo and honestly this looks like classic post-IPO drift with earnings coming up soon. Hard to have strong conviction either way until it reclaims that $125 level.
Anyone else positioned here or just waiting for the dust to settle?