May OPEX (Options Expiration) Live with Brent Kochuba | SpotGamma

Why It Matters

The dynamics mean option premiums are skewed toward calls in the biggest winners, so traders who sell volatility or structure hedges can capture rich premium while buyers risk muted payoffs; understanding these skews is key for risk management into expiration. This affects trade selection, portfolio hedging, and potential exposures across concentrated AI/mega-cap positions.

Summary

Brent Kochuba said this is OPEX week and described a market shift from high equity correlation driven by Iran/oil fears to a risk-on, AI-led rally after strong earnings and a ceasefire narrative. Options scanners show calls rich versus puts in many AI and mega-cap names, with elevated one-month IV ranks—making outright call buys costly and creating opportunities for sellers. He flagged names like AMD and NVIDIA as having high implied volatility where selling call or put-ratio structures could pay off, while Tesla stands out with relatively low IV and room for asymmetric upside. Kochuba also noted realized vol behaviour into expirations and urged traders to consider hedging and position sizing ahead of OPEX.

Original Description

🔥 OPEX TOP STOCKS + ANALYSIS ➡️ https://spotgamma.com/opex/

Join SpotGamma Founder, Brent Kochuba, live to discuss all things options expiration for May 2026, a reliably volatile time in the markets where options can have a BIG impact.

_Where Options Flow The Markets Go_

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*Note: This content is intended for general information and entertainment purposes only. No mention of company names, trading strategies or illustrative examples constitute investment advice. SpotGamma advises you to seek investment advice from a licensed professional.

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