Hedged Equity Update

9 ธ.ค. 2022

I wrote this script to track 3 hedged equity funds.

I've been following these funds for nearly 2 years now.

This is the first time in 2022 that I have seen the funds positions line up in positive gamma.

All of 2022 the hedged equity funds were aligned in negative gamma and sold off into expiration.


Except when dealer Gamma exposures is positive or short squeezed by other large market funds / orders.


Most notable was strength from this positioning shortly after SLR restrictions were loosened for the pandemic.
March - June 2020


Expect Shiny and Don to be supportive flows. Buying dips and selling tops.

While Tiny provides fuel for short squeezes.

Range for expiry is 4300 high and 3838 low.

Likely pin into OpEX this month is 4069 and if TSLA gets itself together 420 on spy by the end of the month.

As for the smaller hedged equity fund positions.

Tiny just reset at the end of Nov.


Short 4320 Call
Long 3855 Put
Short 3250 Put

Shiny is chilling at delta accumulation in positive (supportive) gamma.