A new wall and a gamma hole under price (captures 6 and 7)

After the break, the market settles between 7,612.5 and 7,616.75, on heavy volume: it starts accepting prices above 7,610. A new 180-lot sell wall has appeared at 7,620. At the same time, on the options side, puts were bought during the rally: net GEX goes from −$1.40B to −$1.79B, and above all there is almost nothing left to brake between 7,615 and 7,595. This lesson puts the two captures side by side: the book says the market accepts higher prices, the gamma profile says the cushion under price vanished in twenty minutes.