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KASM Capital Profile picture
KASM Capital
@KASM_Capital
Former BLK analyst. Perpetual learner. Sharing charts & trades with a focus on SPX and individual plays. Join us 👇 https://t.co/ajk63mOGLo
Mar 31 • 8 tweets • 3 min read
$SPY ripped 3% today. Most people saw the move. Almost nobody understood why.

It was a gamma squeeze — and you could see it coming hours before it happened. Here’s how. Every quarter, JPMorgan rolls a massive collar position on SPX.

That means they sell calls and buy puts at different strikes.

For Q1, the long put sat at 6,475 with roughly 32k contracts and nearly $2B of negative dealer gamma tied to that single strike — you can see it in the attached as the largest negative gamma bar on the entire GEX chart.

When SPX fell below 6,475 in mid‑March, that put inverted. Instead of acting as a floor, it became a ceiling. Dealers short that gamma had to sell into every rally that approached 6,475 to stay hedged.Image
Aug 3, 2025 • 8 tweets • 6 min read
Why $GLXY Could Be a 10x Play (a🧵)

$GLXY is surging among investors as the "Goldman Sachs of crypto" pivots into AI infrastructure, blending institutional crypto services with high-margin data center leases. This diversified powerhouse offers massive upside over the next 3-5 years.

By 2030, Galaxy could emerge as a global leader in digital assets and AI compute, capitalizing on crypto adoption and the sector's projected 156 GW power demand for AI.

Here's why: With a $3B+ balance sheet (BTC, ETH, ventures), full-stack crypto ops (trading, lending, asset mgmt, staking), and Helios data center (393MW leased to CoreWeave at ~$900M avg annual revenue, 90% margins; pipeline to 2.5GW+), $GLXY hedges crypto volatility with stable AI cash flows. Projected 20%+ CAGR, $2B+ EBITDA from infra, and 10x from its $10B market cap, fueled by BTC rallies to $185k+ and hyperscaler deals. 🚀

Whether you're a longtime holder or new to $GLXY, this concise overview covers the company’s infrastructure, edge, financials, and growth prospects.Image Before we begin, please like and repost this thread if you find it interesting. This deep dive is comprehensive but omits some details for readability. Add more information in the comments below!
Jul 20, 2025 • 8 tweets • 5 min read
Why $IREN Could Be a 10x Play (a🧵)

IREN is surging among retail investors as a hidden AI gem in the data center space. This renewable-powered operator blends Bitcoin mining cash flows with explosive AI growth, offering massive upside over the next 3-5 years.

By 2030, IREN could emerge as a global AI infrastructure leader, capitalizing on the sector's projected 156 GW power demand.

Here's why: With 100% renewable-powered data centers, ultra-low energy costs ($0.025-0.03/kWh), and a pivot from Bitcoin mining (50 EH/s achieved, capping at 52 EH/s) to AI cloud (4.3k+ NVIDIA GPUs scaling for hyperscaler deals), IREN uses mining cash flows to drive AI growth. With projected 156 GW global demand by 2030, IREN could achieve 20%+ CAGR, $100M+ HPC revenue, and a 10x from its $4B market cap, fueled by BTC rallies to $150k+ and Sweetwater's 1.4 GW rollout. 🚀

Whether you're a longtime holder or new to $IREN, this concise overview covers the company’s infrastructure, edge, financials, and growth prospects.Image Before we begin, please like and repost this thread if you find it interesting. This deep dive is comprehensive but omits some details for readability. Add more information in the comments below!