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![MenthorQpro Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::4506425669.png) Menthor Q [@MenthorQpro](/creator/twitter/MenthorQpro) on x 78.7K followers
Created: 2025-06-25 11:58:21 UTC

As we see the VIX falling, this should have an effect on SPX. As implied volatility drops, option deltas shrink.

MM will no longer need as much hedge exposure, so they will buy back futures. 

That buying pressure can mechanically lift $SPX, especially near key gamma levels.

![](https://pbs.twimg.com/media/GuSZsZ7XkAA10fE.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1937842798285242547/c:line.svg)

**Related Topics**
[gamma](/topic/gamma)
[$spx](/topic/$spx)
[futures](/topic/futures)
[hedge](/topic/hedge)
[drops](/topic/drops)
[volatility](/topic/volatility)
[spx](/topic/spx)
[vix](/topic/vix)

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