$Ondas(ONDS.US) $11 is the recent high-volume trading zone and psychological barrier. Capital naturally tends to pile up options here, with bullish funds stacking calls and bearish funds stacking puts below $11. Market makers like Jane Street provide liquidity here, earning option premiums without betting on direction, only maintaining Delta neutrality. However, selling a large number of Call + Put options results in an overall negative Gamma, making market makers net sellers at $11 (negative gamma).

This is the option Gamma Wall for Ondas. On March 2nd, the $11 Gamma wall was breached, leading to a Gamma Squeeze surge. Near-term contracts have the highest weight and strongest gamma, thus the stock price is maintained around $11 unless a strong breakout occurs. Otherwise, $11 will become a short-term strong resistance.

Breakout signals: High volume + large bullish candlestick + surge in option implied volatility, looking forward to the start of the Gamma Squeeze.