Geopolitical Crossroads: Risk Permeating Big Tech

- The market is currently at a geopolitical crossroads with risk increasingly affecting the tech sector.
- Despite the market being down 1.3%, the SPX's expected moves suggest the market is relatively unchanged for the week.
- Volatility indicators like VIX and volatility futures suggest heightened risk. VIX trading at around 20 signifies a more severe market situation than previous sessions.
- Tech remains a significant focus, with some big players like Nvidia facing challenges. However, tech giants such as Microsoft and Google remain relatively unscathed.
- With substantial open interest in SPX and heightened gamma risk, the market can expect significant volatility in the upcoming sessions.