Discover and read the best of Twitter Threads about #JHEQX
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#JPM adjusted their March 31 2023 #JHEQX roll after the close at 4:05 pm ET. The new numbers are:
-3060P (up from 3040)
+3630P (up from 3600)
-4065C (up from 4030)
41,600 contracts, March 31 OpEx.
Will post some analysis over the weekend.
Thank you all, and HNY!
-3060P (up from 3040)
+3630P (up from 3600)
-4065C (up from 4030)
41,600 contracts, March 31 OpEx.
Will post some analysis over the weekend.
Thank you all, and HNY!
Good Morning! Yesterday was a decent sized MOC, negating a comeback rally. One thing to note, the dollar was up about the same as Friday with similar moves across the "scary" assets and the equity drop was muted. That shows to me the vanna rally is about to grow legs.
Looking at premarket, those legs start to stretch a little today.
It is that time again where we are going to hear about #JHEQX a ton again, and I can't stress once again that it is not as significant event as people make it out to be. Here's the thing:
It is that time again where we are going to hear about #JHEQX a ton again, and I can't stress once again that it is not as significant event as people make it out to be. Here's the thing:
As soon as that trade is put on, MMs put on a synthetic combo at the appropriate delta where they can find liquidity. Short put, long call, same strike. They do a combination of them all up and down the chain in the open market, and at the deltas required for hedging.
Wait, wait! Hold on!
Yes, #JHEQX. Again. I know.
But sorry, over the last few days I was very... busy... 🍷🎄
And looking into the #JHEQX roll, I can't say that I fully understand it.
(and based on the discussions, it looks like I'm not alone...)
Let's see what happened 👇
Yes, #JHEQX. Again. I know.
But sorry, over the last few days I was very... busy... 🍷🎄
And looking into the #JHEQX roll, I can't say that I fully understand it.
(and based on the discussions, it looks like I'm not alone...)
Let's see what happened 👇
The trade sparked many heated conversations on Twitter, with everyone trying to understand what exactly will be its impact.
Some argued that there's a huge delta to buy, which might move the markets.
Others claimed that it's all been priced in already, and no money can be made.
Some argued that there's a huge delta to buy, which might move the markets.
Others claimed that it's all been priced in already, and no money can be made.
What I want to understand is:
• Was there a huge delta to buy?
• If there was, why was the market down on 31 Dec?
• If there wasn't, why?
• If it's priced in, then how?
• What mechanics allowed #JHEQX to alleviate the market impact?
• Was there a huge delta to buy?
• If there was, why was the market down on 31 Dec?
• If there wasn't, why?
• If it's priced in, then how?
• What mechanics allowed #JHEQX to alleviate the market impact?
