Aug. 23 at 7:11 PM
$CVS just closed the week below this key supporting trendline, right after reaching the apex of the triangle. Likely a bearish breakout, to the downside 🔻
Currently at
$93.14, gamma flip
$102.00 — price is well below the flip, so this is negative gamma territory: moves tend to get amplified, not cushioned 🐻
Max -GEX is -688.7K at
$85 — that's the level where a slide could pick up speed. Below current price, red dominates all the way down (90, 87.5, 85 all show consistent negative prints across expiries), so there's no real dealer floor between here and there.
Max +GEX is 4.26M at
$105 — that's well above spot, meaning meaningful dealer support doesn't show up until CVS reclaims
$102+ (the flip itself). Until then, it's an unsupported tape.
