Some big-time earnings releases this week

Options flow started the Friday session extremely messy as both call and put buyers were active nearly at an even pace. That being said, a big chunk of morning protection steemed from China-related issues and once that activity dried up, flow had a much cleaner look to it into the afternoon.

Mega-cap tech and secular growth(lower rates related) were once again where buyers maintained focus. Players were on the hunt for that lower yields theme needing more exposure into tech earnings, but also because of an expectation for a more dovish Fed this week, coming off a spike in worldwide health conditions.

On the sentiment front
Short-term sentiment finally pushed higher off Friday's rally but finished short of landing in the "caution zone", many intermediate-term indicators hardly budged last week.

Hedge fund exposure which is one of the potential risks we are keeping a close eye on, slowed their buying but remains at an elevated level.

Gamma exposure remains low for where this current rally sits.

Some big-time earnings releases this week, as well as the FOMC meeting on Wednesday. We can see a couple of days of continuation this week until the threat of a "sell the news" event, as mentioned, gamma exposure remains relatively low and rotation could be a key factor to keep an eye on mid-week. That could come with few sentiment sell signals as well.

Notable bettings toward individual names