What Would Change My Mind

• If SPY closes above $748 for three consecutive sessions ahead of NFP → dealer short gamma positions flip to long, mechanical selling pressure reverses, and negative-gamma amplification structurally unwinds. • If NVDA breaks above $220 on volume exceeding 60M shares in a single day → dealer hedges transition from seller to buyer, collapsing the negative-gamma regime for the six-name cohort and signaling rotation into large-cap tech support. • If QQQ fails to hold $676 on a retest and breaks below $670 → negative-gamma cascade accelerates, dealer hedging intensifies downside moves, and the structural amplification mechanism deepens rather than mean-reverts.