A lot of cash on the sidelines and "no one is looking to hedge". Reads as though institutions aren't willing to commit new $ but are willing to let lingering bets ride. Underexposed with maximum risk.
Regarding "no is looking to hedge".. Richard said it looking only at Vix crash but looking at put-call ratio he says "better times for SPX" in fact put call is high.
Also 3M skew (put volatility - call volatility 3M) is high meaning trader are hedging themself.
Very nice cover letter as always missed those deep dives on fundamentals behavioral and catalysts. Do you have in mind upgrading the 3 part process with more in-depth information?
A lot of cash on the sidelines and "no one is looking to hedge". Reads as though institutions aren't willing to commit new $ but are willing to let lingering bets ride. Underexposed with maximum risk.
Regarding "no is looking to hedge".. Richard said it looking only at Vix crash but looking at put-call ratio he says "better times for SPX" in fact put call is high.
Also 3M skew (put volatility - call volatility 3M) is high meaning trader are hedging themself.
Very nice cover letter as always missed those deep dives on fundamentals behavioral and catalysts. Do you have in mind upgrading the 3 part process with more in-depth information?
I will go into more detail as time permits and as the information permits. Honestly, right now, I don't think a deeper dive is really needed yet