The situation at TSLA deteriorated Friday given a large 6.4% drop and net gamma declined by almost 10M to -12.6M. The stock is now more clearly trading in a negative gamma environment, where potential drops need to be hedged by option dealers by selling futures into weakness, which would further destabilize the chart. At 950 gamma increased by 3.2M to 20M. In case of a sell off this level would pull the price lower first and then act as a potential base from where markets could stabilize and stage a reversal. Good luck tomorrow.
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