The 11 billion SPX delta position showing up on Christmas Eve during a half trading day is pretty wild—the scale here is honestly jarring. What's equally striking is that massive 90k condor setup on the left side of the chart. These two moves seem too coincidental to ignore; there's likely some serious hedging or positioning strategy at play here. When you see this kind of delta concentration combined with such a tight condor structure on a low-liquidity holiday session, it usually signals someone's making a big calculated bet or locking in a massive exposure level. The timing and magnitude definitely warrant attention.