Total Put/Call Ratio fell to 0.70 on Friday, one of the lowest levels in the last 4 years 👀
Source: Barchart
Before 2011, VIX never retraced 40% in two weeks…
It’s happened five times in the past twelve months. Source: The Market Ear @themarketear
Key events for the week ahead...
FOMC set for a third straight 25bp cut...while RBA, BoC & SNB should stand pat...JOLTS & UK GDP highlight the data docket...while a chunky slate of Treasury supply awaits... ORCL & AVGO highlight the earnings calendar... Source: Pepperstone
Boring Investing Still Works
"Introducing more complexity into your portfolio can make it much harder to manage. The fees are higher, they’re more illiquid, it’s harder to rebalance, and there isn’t nearly as much transparency." Source: Ritholtz @RitholtzWealth NYU
Strong squeezes in the lower quality stuff such as most shorted and MEME ETF.
Boring BTC remains the relatively soggy one... Source: TME
VIX seasonality becomes very strong in a few weeks.
Source: TME
Total Put/Call Ratio drops to 0.70, one of the lowest levels in the last 4 years 👀
Source: Barchart
Goldman: As Panic Index Nears Record, Chase For Downside Protection Is Off The Charts
After an early post-Nvidia rebound, markets reversed sharply on Thursday, and the demand for hedges became obvious. Goldman reported “a massive bid for puts,” with option activity staying extremely elevated. As the chart shows, total put volume hit its third-highest level of the year, while overall option volume climbed to one of the highest readings on record. The scramble for downside protection has pushed normalized put/call skew to one of its highest levels in the past three years. Another way to illustrate the sheer surge in activity: average daily trading volume in SPX options has now reached $3.5 trillion. That’s an all-time high—and, remarkably, larger than the entire market capitalization of the Russell 2000 (RTY). Source: zerohedge
