r/options
QQQ Gamma Levels Set Up For MU Earnings Move
Analyzes QQQ's gamma exposure and dealer positioning ahead of MU earnings, outlining scenarios for a grind or volatile move.
The QQQ dealer book is long above 730 and moomoo shows it cleanlyLook, MU prints Wed and that's the whole AI-memory tell for the back half of June. QQQ GEX on moomoo right now: flip 730.66, spot 737.58, big positive gamma stack from 738 thru 750, monster call wall at 750. Translation — dealers are long gamma into this print, which usually means slow grind, low realized vol, pin behavior into Wed close. If MU rips and we punch thru 750, that wall flips into a chase. If MU disappoints and we lose 730, the put wall at 725 is the line and below that dealers go short gamma and the tape gets squirrelly fast.The thing I keep telling people about moomoo's GEX feature — it's the same dealer-positioning lens the prop desks pay 4 figures a month for, sitting one tab away from the option chain. Strike-by-strike call vs put gamma, the gamma flip line drawn on the chart, call/put wall labels you don't have to calculate yourself. Updates intraday, not some EOD PDF. On my phone. For zero dollars.If you're trading QQQ weeklies into MU, just check the gamma flip first. Saves you from fading a pin you didn't know was there.
Is there really a chance MU doesn’t go through the roof
Could pull an avgo
there is a very good chance this pulls an AVGO actually
Any slight guidance the street does not like will tank this hard from its massive rally and entire index will drop for a week
China possibly being soft on MU (25% of its revenue)
CAPEX required without the revenue in place
LOTS of risk on this earnings
I mean they physically can’t produce enough. And their margins are locked on 5 year deals.
So guidance can’t go through the roof. Which is what Wall Street will be looking for.. right??? Is this an easy play?
This is my opinion. I loaded up on soxs calls on Friday. Unfortunately I was early and am down about 50% today but the thesis holds.
It'll dip for a month or so, long enough for everyone to think it's over. Then it will boom
You realize short vs long on strikes is not able to be known right?
Its a best guess done by your data provider using OI and a volatility surface
If you want another angle on options, depth4.com has been useful for me. It reads thousands of headlines and maps the macro cascade. No affiliation, just a tool I use.
It looks quite intuitive.
This looks like a Robinhood options analyzer that uses data that won't be relevant by 4:50pm Wednesday
Ahh yes, naive GEX! Completely useless but nice try.
You can’t just look at OI and say “dealers must be short this because customers are likely long”. That’s not how it works. You need better data so you can see what was BTO and STO to see true gamma exposure. You need net positions.
Scrap that nonsense and pay for a service. (Not spotgamma)
Naive gamma is almost misinformation. Don’t use it for directional purposes
The 730 flip is the number to watch Wednesday morning. Lose it and realized vol picks up fast, which is exactly the wrong environment for short premium plays that looked clean the day before.
I’m gonna be a bear and say it could be a fake out