'Options Market Is Chasing': S&P Supported By Positive Feedback Loop Of AI, Falling Vol

Tl;dr: The dynamic of vol crushing, inspired by Iran "maybe a deal" and the earnings crushing is a tide that is hard to fight.

Dealer positive gamma in Index and equities should also keep the "buy the dip" in tact, and SpotGamma sees little change for this into May OPEX (~10 days from now).