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Podcast: Excess Returns
Episode: How Option Dealer Flows Impact the Stock Market
Description: Billions are moving through the stock market every day—but not for the reasons most investors think.In this episode, Brent Kochuba of SpotGamma breaks down the hidden world of options dealer flows and explains how concepts like gamma, vanna, and charm are silently shaping market behavior. Whether you’re a trader or long-term investor, understanding these behind-the-scenes forces is essential to making sense of today’s volatility.We discuss:What dealer hedging flows are—and why they matterHow options flows move billions without a fundamental triggerThe role of...