$Oracle(ORCL.US) Looking at the options expiring on July 31, we are currently in a negative Gamma zone, where volatility is prone to expand. 120 is a major Put position node and an important battleground. 122.38 is the Gamma flip point. 125 is a major Call position node, serving as potential resistance/suction.

In the short term, pressure will set in after a 6% rise, with limited upside space. Although historical price trends show it's already in an undervalued range and there was a rebound today, be cautious of changes in intrinsic value. An item worth $100 now selling for $50 isn't necessarily a loss-making clearance sale from an $80 cost; the cost might have dropped to $20, meaning selling at $50 still yields a $30 profit.

So, broadly speaking, there are two scenarios.

Betting on a rebound. This requires a catalyst—a strong proof that such high leverage is justified. Open positions during low-volatility dips, betting on a broader market rally or unexpected events to cover drawdowns. It becomes more suitable to enter as it nears 110. After all, over $100 million in Puts are sitting at 110.

The other approach is to treat it like a cash cow: seek relative stability rather than explosive growth. Wait until it firmly stands above 125 within the month before acting.

Leaving a record here.