GEX ballooned today. In weeklys, traders were selling OTM puts. In monthlys, premium was high in ITM calls sold. Options sold increase GEX and lower volatility. $VIX down 6% in 2 days. $VVIX down 7.7% over the same period. $VVIX is a good predictor of future $VIX realized variation.
The dark liquidity index remains in accumulation mode.
I should note that while today’s weekly options activity portray a relatively bullish sentiment … the June-July ITM calls sold (image above) probably represent institutional hedges against expectations for short-term downside.