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- VEXING VIXShorting VIX has been the big pre election play, and we noted recently during market draw downs that VIX put volumes have increased. This indicates VIX sellers are taking advantage of higher […]
- Options are a Larger Piece of the Liquidity PuzzleAretemis posted this graphic depicting the size of the options hedging market relative to other large flows. As options volumes increase its likely that volatility increases due to the mechanics of dealer […]
- Nomuras Pre Election Gamma View“A lot of folks [are] pushing these VIX 1×2 Put Spreads trading in the market, looking to put this on as their ‘short vol’ trade expression to capture a [year-end] melt-up. Now, […]
- INTC Post ERWe posted this to twitter last night after INTC missed earnings and was down -10% after hours. $INTC is -10% after ER's. There is a lot of OI at 50, particularly in […]
- TSLA Has Less SparkTSLA announced earnings last night which beat expectations and the stock reacted… fairly normally. No insane pops or drops. We think much of this tepid reaction is due to the relative lack […]
- 2020 The Year of the Customer CallFundamentals are dead Flows are the only thing that matters today Policymakers sought to stop a credit cycle with liquidity so people mistake liquidity for reality Financial gravity suspended, but not indefinitely, […]
- Nomura 10/15 Gamma UpdateFrom ZeroHedge A double-whammy of ‘soft’ Mnuchin confirmation that a fiscal “deal” pre-election is unlikely and the reacceleration of COVID-19 restrictions and closures across Europe, sparked a significant ‘risk-off’ move overnight with Nasdaq almost erasing all […]
- ZM ZOOM ZOOMCall buyers are out in full force in ZM. Going into today there was ~250k calls outstanding. Today so far we’ve seen 150k calls trading, with 520-550 strikes in tomorrows expiration particularly […]
- Options poetry by McElligottOptions poetry by McElligott “Just like the Aug / Sep “pivot” from extreme grab to extreme vomit, if we were to continue rallying into Friday’s expiration, there will continue being a ton […]
- Nasdaq Explodes Higher Amid Unprecedented Gamma/Futures Double-SqueezeFrom ZeroHedge Heading into the weekend, we observed that despite the recent drift higher in the Nasdaq last week after its September correction, institutional investors remained skeptical with a near-record number of […]