The 'gamma blanket' created by positive gamma positioning in options will be removed after December 31st expiration, which will shift gamma from positive to negative, causing volatile swings as gamma hedges must be unwound and potentially triggering position adjustments across the portfolio
causalpending
Speaker
Brent KachubaEvidence Quote
“that Blanket's going to get removed a lot of stuff can shift and and that is why we think this could be a topping time”
Source
Tesla, MicroStrategy and An Inside Look at the Biggest Options Expiration in Market History— Excess ReturnsCreated: 8/11/2026, 8:03:54 AM
My Notes
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