📝 Summary
Short gamma regime re-entered after 20Y auction shock. Below 5870, dealers face structural sell pressure from vanna + gamma + charm convergence. Wait for VIX to fall before buying any dip.
📊 Price Levels to Watch
🔺 Upside Breakout Trigger: 5885
→ Reclaiming this level flips dealers back toward neutral gamma, opening short-covering squeeze potential...
