Options Futures and Other Derivatives by John C Hull (7th ed or later)

It's not that simple.

At its core, the premise is that the price touches some important level, and then reacts off of that level.

If there's a consistent pattern, then there's an edge which can be traded.

The part about market makers' sensitivity to gamma is more an attempt to explain why the phenomenon exists. Not a confirmation of the phenomenon.

Sharpe Ratio: https://www.investopedia.com/terms/s/sharperatio.asp

These plays are based off of a cross of delta neutral or gamma max (click the links for each ticker) and if the reversal hadn't happened, then the play is still valid.

However, with each new day of data, there's a very likely chance the circumstances surrounding the play changed.

Good context to have. Thanks for sharing!

Strange Flex. Usually you just say no backtests.

I got that play wrong.

I don't hit 100%

What do you mean?

Still a hold.

Bagholding alongside a bunch of others. Gamma Max hasn't reasonably gone higher, so hoping this is the final bump.

No. And are you confident the 50bps hike will happen? Depends on the unemployment number on Friday.

Yes. Hold if you have them. Don't forget your position sizing.