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Is High Gamma Beneficial or Detrimental to an Option Seller near Expiration?

High Gamma is highly detrimental to an option seller (short option position) near expiration. An option seller has negative Gamma, meaning their position is exposed to accelerated losses if the underlying moves significantly.

The Gamma spike near expiration magnifies this negative Gamma, forcing the seller to frequently and expensively re-hedge their rapidly changing Delta exposure, often at unfavorable prices.

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