Options dealers are always hedging, and their hedging pushes the stock around. Which way depends on the regime. Flip the switch and give price a shove — watch what the dealers do.
This is the single biggest input to the T&G Score, and it changes how you should trade a name entirely. In negative gamma, breakouts run and momentum works — moves get amplified, so trends and directional options have the wind at their back. In positive gamma, price gets pinned near the flip and chops — fade the edges, expect mean-reversion, and know that theta grinds you while nothing moves. The flip is the line between the two, which is why a ticker sitting right at its flip is at a genuine tipping point.
A simplified illustration of dealer hedging, not a simulation of any specific stock. Not financial advice.