$2.6 trillion in calls traded yesterday alone. Today’s volume is tracking even higher.
Welcome to the great gamma squeeze of 2026. It’s about to end, and tonight’s video shows you exactly how.
The cleanest warning sign in options markets is flashing right now. Volatility is climbing alongside the market.
Pros watch for that combination because it almost always marks the top of these moves.
The skew has now bent so far that out of the money calls trade richer than out of the money puts. Intel (INTC), AMD (AMD), and Micron (MU) are all flashing the same signal.
When premiums get this rich, professional firms stop buying and start selling. That single shift is what unwinds the squeeze.
Tonight’s video walks through the exact levels and the data points driving my thesis:
$2.6 trillion in calls traded in a single session yesterday
Intel’s weekly implied volatility hit 114%, the highest reading on record since 2004
AMD 640 calls sit 200 points out of the money and are trading at $4 a contract
The S&P 500 pushed outside its upper expected move of $110 by half a standard deviation
Only 36 of the S&P 100 are advancing while the index is up 50 handles
Market breadth tells the rest of the story. The Dow is down 100, and healthcare, utilities, and home builders are all rolling over.
Semiconductors are carrying the entire market. The inverted volatility skews inside Intel, AMD, and Micron are screaming exhaustion.
Jobs numbers came out strong this morning, and the market shrugged. Consumer confidence landed without a flinch. Oil at $95 a barrel got the same treatment.
Nothing matters except the squeeze. When that single fuel source runs out, the move down will be violent.
If you chase from here, use defined risk trades only.
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