Margin, PE, Vol 🗜 / Wait for the Fed to over-tighten, Un-inversion is the 🪧 / 👀 Neon 🦢 / 🇨🇦🛢⛽️ / 💭:🖍, 🍋, 🏋🏼♂️⚙️, 🥐🌊🦍👸🏼🦥🐠🏔 / #PTI 🏏
Mar 10, 2023 • 4 tweets • 1 min read
How price felt about yesterday’s 0DTE positive deltas… twitter.com/i/web/status/1…
Today could be different (we have a weekend of time to kill between now and the close… 👀) 🤷🏽♂️
Mar 10, 2023 • 4 tweets • 1 min read
$VIX about to hit an uptrend from the underside as $SPY approaches 385. I would expect a bounce (or at least some congestion/consolidation) but there’s a node down at 380… and we are living in a 🏔 world.
Alrighty then, $VIX 🖍️
Mar 10, 2023 • 28 tweets • 5 min read
Notes - Cem 🥐 x Gayed - 9am PT 2023/03/10
Last year
- lots of MMs los money on hedges
- Cem's funds made money - bc they track dealer positioning so they can time it right and know when the flows will come in, etc
- short stock, short put was the game
- most were positioned long stock, long puts = doubly painful
- 2022 start world was 1.3x leveraged, then hedged with puts
- something like 130 beta
- move wasn't convex, so they got fu.. 🙊 *screwed
On renewed fears of an upshift in the pace of Fed rate hikes, the Dow is down the most
DJIA -1.17%
SPX -1.09%
NDX -0.76%
RUT -0.71%
What’s going on?
How does this make sense?
🧮
Only things I can think of are (a) that small caps already got tossed yesterday, so maybe the risky stuff just doesn’t have as much trueing up to do; and (b) the more major indices are well hedged, etc.
Anything else?
Mar 6, 2023 • 4 tweets • 1 min read
Oh shit, big Jim is on… 👀
This is why he’s Big Jim:
