Rising correlation, firmer fixed-strike vol and steeper 3-month put skew suggest the rotation trade is weakening. See where hedges still look cheap.
put skew
Tech Selloff Looks Like Rotation: Brent Kochuba on Schwab Network
Tech options positioning shows light put demand and short-vol bets into Meta and SPCX earnings, a mix that reads as rotation rather than de-risking.
META Earnings Preview: Will Volatility Outrun the Options Market?
Meta Platforms (META) reports Wednesday with investors weighing AI monetization against an increasingly expensive infrastructure buildout. For options traders, the question is different: Is the market charging enough premium for another outsized earnings gap?
Index Put Protection Is Cheap With 10-Year Treasury Bonds at 5.3%
SpotGamma founder Brent Kochuba joined tastylive to explain why index put protection stays cheap with the 10-year at 5.3% and bond volatility climbing.
Index Put Demand Returns Ahead of Friday’s Jobs Report
Brent Kochuba, founder of SpotGamma, on tastylive: index put demand, same-day options flow, and why weekly vol prices almost no risk premium.
AI Stocks Options Positioning: Call Selling, Not Put Buying
Brent Kochuba of SpotGamma joined CNBC on September 16 to read AI stocks options positioning, bond ETF put skew and rising correlation.
Space Stocks: Oversold Bounce or Ready for Liftoff?
Last month, space stocks rocketed their way onto every trader’s radar. SpaceX’s record-breaking June IPO (SPCX) drew a wave of retail and institutional attention to the sector, while a string of NASA announcements made headline news and fueled several meaningful moves. Overall, the space sector has been defined by a notable downtrend in the past […]
How One Key Level Drove Last Week’s Rally
The S&P 500 bounced back 2% last week after scraping against 6-month lows. Mixed headlines on the Iran conflict explained much of this tug-of-war, yet markets are still holding their breath. For many traders, the rally felt counterintuitive: How can equities rally so furiously if geopolitical uncertainties remain unresolved? When looking at Tuesday’s major bounce in […]
After OPEX: Market Loses Its Shock Absorber
The options market has just cleared one of the largest structural events of the quarter, as Friday’s OPEX saw nearly $1.4 trillion in delta notional expire for the S&P 500. Because significant positions have now rolled off from the March expiration, the market has lost an important stabilizing force just as macro pressures begin to build. […]
March OPEX: Tipping Point or Turning Point?
Fragility, Risk, and Potential Vol Reset As the S&P 500 enters OPEX week, we echo the same theme of the past few weeks: this market remains fragile. Last week’s selloff pushed the index below the three-month trading range of SPX 6,800-7,000 that had held since late 2025, subsequently closing down 5% since mid-January. The conflict with Iran continues […]