do you monitor open interest - to see if those calls once written are being covered (for a probably gigantic profit) or SOMETHING is opening a new position
CNBC is now convinced that the Fortress debacle/shutdown spells some kind of a death knell for macro hedge funds - funny because I was beginning to think the exact opposite, but that may be me mistaking my camel's urine pool for an oasis.
I do wonder (and am probably the last person on this board to do so) how much of the EM/commodiity equity carnage prior to the last couple of weeks was attributable to the liquidation of their book.
CNBC airheads tearing Global Macro managers a new arsehole today. Here at Falling Knife/Hammock we are not overly impressed with our 6% YTD, but we could be doing a lot worse.
"Spot the difference between the SPX intraday chart.... ...and the daily chart. Will be curious to see if the resolution of the former yields insights on the latter..."
Today it went up a bit and then came down a bit. I am none the wiser. I shall thus just fade Nico, and produce some alpha that way ;)
Media focusing on some nutjob buying VIX calls by the truckload, which has happened before prior to a number of TWINE events leading to non-apocalypses. Bear in mind that someone sold those calls and that vol sellers usually win, as per Nico's earlier commentary on tiny punters and options trading.
Sentiment in equities still predominantly negative, a bit of enthusiasm among punters for volatility. It all suggests that this rally, squeeze, upward move, retracement, call it what you will, may not be done just yet.
Someone( or SOMETHING ) is buying the October 19 $VIX calls in thousand lots. Up to 31,000 now.
ReplyDeleteAnything going on further out the curve against it ?
ReplyDeletehave to say spoos puts look cheaper
ReplyDeletesheesh October 19?
ReplyDeletedo you monitor open interest - to see if those calls once written are being covered (for a probably gigantic profit) or SOMETHING is opening a new position
CNBC is now convinced that the Fortress debacle/shutdown spells some kind of a death knell for macro hedge funds - funny because I was beginning to think the exact opposite, but that may be me mistaking my camel's urine pool for an oasis.
ReplyDeleteI do wonder (and am probably the last person on this board to do so) how much of the EM/commodiity equity carnage prior to the last couple of weeks was attributable to the liquidation of their book.
the guy sacked is still worth $300m not bad for an ex Army guy
ReplyDeleteCNBC airheads tearing Global Macro managers a new arsehole today. Here at Falling Knife/Hammock we are not overly impressed with our 6% YTD, but we could be doing a lot worse.
ReplyDeleteI'm a bull and I think this piece of sh*t market rolls over soon. (Not sure how Pol would score that).
ReplyDeleteBuy FIG and put it in the sock drawer. Its stupid cheap. Novogartz is a putz, Wes Edens and Pete Bridger are great investors.
ReplyDelete"Spot the difference between the SPX intraday chart.... ...and the daily chart. Will be curious to see if the resolution of the former yields insights on the latter..."
ReplyDeleteToday it went up a bit and then came down a bit. I am none the wiser. I shall thus just fade Nico, and produce some alpha that way ;)
alpha Romeo,
ReplyDeletefyi i ain't touching spooz anymore so to fade Nico you'd have to buy Europe at present
depending on your timeframe i would suggest you wait for a higher low above 3040 stoxx, nothing until boa sorte amigo!
Nico - just teasing you there. I think we get at least a little pullback in equities here, so no buying for me at present.
ReplyDeleteMedia focusing on some nutjob buying VIX calls by the truckload, which has happened before prior to a number of TWINE events leading to non-apocalypses. Bear in mind that someone sold those calls and that vol sellers usually win, as per Nico's earlier commentary on tiny punters and options trading.
ReplyDeleteSentiment in equities still predominantly negative, a bit of enthusiasm among punters for volatility. It all suggests that this rally, squeeze, upward move, retracement, call it what you will, may not be done just yet.