After Astera Labs surged +15% in a single day, the open interest of calls on the options chain is actually increasing rapidly instead of taking profits.
The current near-month IV is about 85%, historical volatility is about 60%, with a premium of about 25 points, indicating the market is pricing in the upcoming Q1 earnings report (expected EPS YoY +63.6%, revenue YoY +83.5%).
There is a large accumulation of positive gamma in the $80-$90 range in the GEX distribution, where market makers tend to buy low and sell high, acting as a stabilizer.
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