Gamma Rotation Gap is now firing risk-off. The Gamma Rotation Gap™️ compares normalized $SPY dealer gamma against normalized $TLT dealer gamma. Positive extremes mean equity cushion with duration fragility. Negative extremes mean equity stress with duration cushion.
@joemccann·Jul 17, 2026·2 sources·neutral
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The Gamma Rotation Gap, comparing normalized SPY and TLT dealer gamma, is signaling a risk-off shift.
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Gamma Rotation Gap is now firing risk-off. The Gamma Rotation Gap™️ compares normalized $SPY dealer gamma against normalized $TLT dealer gamma. Positive extremes mean equity cushion with duration fragility. Negative extremes mean equity stress with duration cushion.
@joemccann
Jul 17, 2026
Gamma Rotation Gap is now firing risk-off. The Gamma Rotation Gap™️ compares normalized $SPY dealer gamma against normalized $TLT dealer gamma. Absolute GRG above/below 2σ means the cross-asset gamma spread is statistically stretched. We are at -1.82σ at today's close. Negative extremes mean eq
@joemccann
Jul 17, 2026