This post will be a little more technical, but it's important, so I urge you to read on. Over the past couple of years there has been an increased interest in dealers' gamma charts to help explain market movements. Strategists such as Nomura's Charlie McElligott and Marko Kolanovic from JP Morgan have been elevated to god-like status on their analysis of this somewhat complicated concept. My background is originally an institutional equity index trader, so although I enjoyed reading their reports to find the periods when dealers were either choking on soul-destroying quiet-market long gamma positions or scrambling ... (full story)