IWM Trapped at Key Gamma Pivot! GEX Squeeze or Breakdown ?

🔮 GEX (Gamma Exposure) – Options Sentiment Overview

🚨 High-Risk Gamma Pivot Around 186–185.8
* IWM is sitting exactly on its highest negative NET GEX zone at 185.82, making this a key inflection point.
* Dealers are likely long gamma here — a break below can force rapid adjustments, pushing the ETF toward 183–182, where more negative GEX builds.

🔺 Dense CALL Walls at 187–190–192
* There’s strong CALL resistance stacked between 187.94 and 192.12, with 190 and 192 showing large hedging flow.
* Any upside attempt will likely stall into these zones without strong volume or macro support.

📊 GEX Sentiment Breakdown:
* IVR: 43.3 → Moderately elevated, volatility potential remains.
* IVx avg: 34.8, currently down –14.73%, signals a possible volatility contraction, which could hurt premium buyers and favor a grind or drop.
* PUTS: 53% → Extremely heavy PUT positioning, indicating dealers are short gamma to the downside and could fuel accelerated selloffs if 185 fails.

🎯 GEX Flow Summary:
* If 186 holds, expect more chop between 186–188.
* If 185.8 breaks, price could snap toward 183 → 182 → 180, where next levels of PUT walls await.

🕰️ Technical Analysis – 1 Hour Chart Breakdown

Price Structure:
* Price is tightly coiled at the apex of a descending triangle.
* Support is showing stress at 184.97–185.8, with lower highs forming — this looks bearish unless bulls reclaim the wedge.
Indicator Confirmation:
* MACD: Flat and neutral, no bullish crossover in sight.
* RSI: Grinding lower under 50, consistent with bear pressure building.
Levels to Watch:
* Support: 185.8 → 183 → 182 → 180
* Resistance: 187.9 → 190 → 192.1

🧠 Final Thoughts:
IWM is caught at a crucial gamma pivot with both sides hedged and waiting. Dealers are loaded with PUTs — if this slips under 185.8, we could see amplified selling toward 182 or even lower. However, if bulls reclaim 187.5 and flip VWAP, then 190 becomes possible.
This is a gamma squeeze waiting for a trigger — prepare for volatility.

This analysis is for educational purposes only and does not constitute financial advice. Always use proper risk management and let price confirm your bias.