SPX Gamma AM

Good morning and welcome back to the morning update.

Yields continue to inch higher and the 10-year note yields are currently testing 2.9 percent, which is quite a big deal considered that at the beginning of March yields were trading below 1.7 percent.

Yesterday James Bullard, who is a FOMC voter said, that he isn't ruling out a 75 bps hike. Also, according to french finmin Le Maire an embargo on Russian oil is in the works. Such a move could send oil higher to 185 dollar according to JPM.

Dealer gamma totals -485MM currently, while the major gamma strikes stay largely unchanged. Gamma inverts at 4480, support can be identified at 4350 and 4300.
Beyond Technical Analysis

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