ZeroGamma Research

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ZeroGamma Research is an independent market research publication. We publish verified options-flow analysis, earnings research, and plain-English market explainers for self-directed investors. Every number we print is computed from source data and can be checked. Research and education only. Not investment advice.

ZeroGamma Research is not a registered investment adviser. Our content is general market research and education — not personalized advice or a recommendation to buy, sell, or hold any security. Investing involves risk of loss. Past performance does not guarantee future results. ZeroGamma Research and its contributors may hold positions in the securities discussed.

PLAIN-ENGLISH EXPLAINERS

Questions, answered with the math.

The three explainers behind our most-watched videos, written out in full: the question, the short answer, and every number, checkable on the page.

EXPLAINER

What does starting ten years late actually cost you?

The full math on $10,000 at 10% a year, why the final decade does the work, and what a 1% fee quietly takes.

Read the explainer · October 19, 2026 →

EXPLAINER

Does missing the 10 best days really cut your returns?

Computed on 2,514 SPY daily closes, Oct 2016 to Oct 2026, with the honest correction to the slogan and both day tables in full.

Read the explainer · October 19, 2026 →

DEEP DIVE

TSMC just posted a record quarter. Why did the stock fall, and what are we watching?

The WATCH verdict, the $395 to $425 staged zone, the quarter as reported, and the checkpoints that would change our mind.

Read the explainer · October 19, 2026 →

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