Talk about a market turn around!

I sold.

Longer term call buying never came in post March opex. Nothing but 0dte and dealers had a MASSIVE bag of long hedge. Now they're caught short puts and the only way to hedge it is to short the market lower. Gamma squeeze works both ways.

"people think the markets been moving higher on actual equity buying. But it hasnt. Last few months have been non stop call buying only (nobody wants to buy the crap this overvalued). When you sell call options to call buyers you buy the underlying asset to hedge your risk (call buyer will make money but you will lose hence the hedge). March 15 was a quarterly expiration cycle where $1T worth of notional hedge expired (i.e. they suddenly had a massive hedge but nothing being hedged). So if people dont continue to buy more calls, the dealers have a massive bag hold.

Also, ive said this for ever but nobody on this board listens to me, that there will be a total unpinning of volatility. Its been two sumo wrestlers stuck against each other for months. Looks stable til it isnt.

My uvxy and Sqqq started screaming!

quote:

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Also, ive said this for ever but nobody on this board listens to me

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Although we may employ different strategies, being that we’re generally in the same line of “work”, I do.

i got hammered today minus oil stocks

Apparently listing my substack (without a link) twice in the span of a month or more is “promoting” it. Peace out, this board can figure it out on your own from now on.

Thank God for bitcoin to stop the bleeding somewhat