“The massive influence, nonetheless, is [from] the gamma positioning of sellers into the occasion. Sellers are brief some $50 million of gamma, with the bulk centered at across the $70,000 strike. As we close to the expiry, that gamma place will get bigger and the pressured hedging will exacerbate volatility round $70,000, offering for some wholly, uneven strikes both facet of the stated degree,” Brickell informed CoinDesk.
