SPX Gamma Update

Recession has arrived, but pundits still try to put lipstick on it ("Yay, the US has the cleanest dirty sheet!"), while BofA slashes SPX target to 3600 today and sees a possible floor at 3000-3200, pointing to the stark divergence between MOVE and VIX (thanks for waking up to that very obvious fact).

SPX dealer gamma -929M. 3700 is a monster gamma strike with 115M of negative gamma attached. The support better holds or else..