The Flip
The expression 'gamma flip' simply describes the point where long gamma positions of those who use them turn into short gamma positions for those who actually would have a need to use them, but don't have them. In other words, it's the point in the market where you want to step back and graciously wait until the forces of good and evil have battled it out and more sane explanations like macro factors, corporate earnings, or illusive trade deals make the headlines again. That's it. That's the simple explanation.
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