The Dynamics of Options Trading

What if the biggest market moves aren't driven by fundamentals—but by flows you can't see?

In this episode, Brent Kochuba of SpotGamma joins us to explain the hidden mechanics of the options market that are quietly reshaping stock prices. We explore how dealer hedging, gamma squeezes, and volatility dynamics like Vanna and Charm are influencing everything from individual stocks to the S&P 500. Whether you're an active trader or a long-term investor, understanding these forces is crucial to interpreting today’s markets.

We discuss:

• Why dealer flows are moving billions in stocks each day

• What Gamma, Vanna, and Charm really mean—and why they matter

• How implied volatility creates powerful reflexive market moves

• Why options expiration dates often mark key turning points

• What long-term investors should know about short-term flows

• Real-world examples: GameStop, Tesla, Nvidia, COVID, and more

Even if you never trade an option, this conversation will change how you think about market behavior.