Or (3) they got hit on some GME paper at the outset out of pure luck, and printed the gamma much higher. SPY volume is higher but SPY doesn't realize like GME h

Or (3) they got hit on some GME paper at the outset out of pure luck, and printed the gamma much higher. SPY volume is higher but SPY doesn't realize like GME has. I can tell you're in the industry because you say pnl instead of p&l haha.