Nomura Warns "Something's Gotta Give" As 'Gamma Squeeze' Looms Ahead Of VIXperation

Traders continued to struggle to weight the kill-or-be-killed concern for multiple firms across various sectors as AI disruption anxiety stretches on.

Goldman traders noted that tension remains in the market, with their panic index hovering ~8.6.

Rallies tend to encounter fresh gamma supply, while dealers move shorter gamma on the further sell-offs.