ARKK Gamma & What's Really Behind The QQQrash?

zerohedge2021-05-11

Nomura's “futures imbalance” monitor showedenormous sell pressure all day in NQ futsacross all lots sizes (the largest in at least 1m), butparticularly in our medium- and large- lot buckets, proxies ...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

Vincewjs
2021-05-12
Vincewjs
Just don't see a portfolio of mine without tech related investments...Tech is an important source to drive any economy forward since life existed...don't understand if anyone would ever bet against tech in the long run. Don't seem wise in my opinion
snd
2021-05-12
snd
Haha
snd
2021-05-12
snd
Great article, thanks thanks thanks.
开开心心好心情的兄弟
2021-05-12
开开心心好心情的兄弟
Just buy more la. Don't be a scary cat. Trust the right side of innovation
- L1324:
  did i bet on the wrong side? [捂脸]
- 开开心心好心情的兄弟:
  stock is waiting game. only those if patient will win
- 开开心心好心情的兄弟:
  those with patience will get the last laugh. endure 👍
- 开开心心好心情的兄弟:
  see the stock is rocket . 😉
Xrealm
2021-05-12
Xrealm
Old
- Xrealm:
  foef
Jkan
2021-05-12
Jkan
Gd
- Xrealm:
  vub

发表看法

219

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/1138008630?lang=zh_CN&edition=full","thumbnail":"","is_english":true,"pubTime":"2021-05-11 23:08","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1138008630","market":"us","top_or_hot":-1,"title":"ARKK Gamma & What's Really Behind The QQQrash?","media":"zerohedge","content":"<div>\n<p>Nomura's “futures imbalance” monitor showedenormous sell pressure all day in NQ futsacross all lots sizes (the largest in at least 1m), butparticularly in our medium- and large- lot buckets, proxies ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/arkk-gamma-whats-really-behind-qqqrash\">网页链接</a>\n\n</div>\n","source":"lsy1583725640930","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ARKK Gamma & What's Really Behind The QQQrash?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nARKK Gamma & What's Really Behind The QQQrash?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-05-11 23:08 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/arkk-gamma-whats-really-behind-qqqrash><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nomura's “futures imbalance” monitor showedenormous sell pressure all day in NQ futsacross all lots sizes (the largest in at least 1m), butparticularly in our medium- and large- lot buckets, proxies ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/arkk-gamma-whats-really-behind-qqqrash\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"QQQ","symbol_name":"纳指100ETF","start_time":0,"source_url":"https://www.zerohedge.com/markets/arkk-gamma-whats-really-behind-qqqrash","article_id":"1138008630","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1138008630","pubTimestamp":1620745704,"sourceInfo":{"source_id":"lsy1583725640930","name":"Zerohedge"},"weMediaInfo":null,"summary":"Nomura's “futures imbalance” monitor showedenormous sell pressure all day in NQ futsacross all lots ","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"QQQ":"纳指100ETF","ARKK":"ARK Innovation ETF"},"translate_title":"ARKK Gamma&QQQrash背后的真正原因是什么？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARKK":0.9,"QQQ":0.9},"content_text":"Nomura's “futures imbalance” monitor showedenormous sell pressure all day in NQ futsacross all lots sizes (the largest in at least 1m), butparticularly in our medium- and large- lot buckets, proxies for large HFs and Asset Managers aggressively selling / shorting...\nTwo things were behind the QQQcrash - ARKK's vicious circle and CTA Deleveraging.\nNomura's Charlie McElligott warns that the monstrous ~$20B ARKK active ETF is getting absolutelytorched in recent weeks amid a negative feedback loop from the mega-high growth / high multiple / “unprofitable” single-names.\nCritically, he explains,the ETF itself now acting “shadow leverage” pressuring this selloff,especially with their dubious risk management practice of heavily concentrated positioning into what are extraordinarily illiquid names.\nAlong with the inherently-extreme interest rate sensitivity within these hyper-growth / high-valuation names, this has made ARKK a popular downside play / hedge in the options space, with Dealers essentially max “short Gamma” near this current $98-100 level, while net Delta across options is ~ $-2B and essentially the low net Delta reading since start 2020.\n\nBut that is not the only driver of the chaos asthe Nomura QIS CTA Trend model showed massive deleveraging in Nasdaq yesterday into the down moveafter the 3m window “sell trigger” was breached and flipped “short” (now joining the 2w and 1m windows as “short,” although neither of those has any signal loading), which overall turned the multi-year legacy “+100% Long” signal across all horizons down to just “+4.1% Long,” and implying ~$10.7B of notional selling in NQ futs in the deleveraging.\nAnd that was exaggerated from a “flows” perspective by the previously warned-about deep Dealer “short Gamma vs spot” in QQQswe highlighted in recent notes as the center of Equities risk, which meant “accelerant” (delta hedging) flows into the selloff, with a now extremely negative $Gamma reading -$673mm (1.5%ile), while net Delta exploded lower to -$20B (1.6%ile).\n\nAnd Small Caps suffered the same asIWM options too showing Dealers DEEP “short Gamma vs spot”still (flips way up at 226.68) and overall $Gamma -206mm (18%ile), while $Delta is -$8.9B (9.3%ile) and negative until 227.34.\n\nThe question - amid this morning's panic-bid in IWM and QQQ - is it over?\n\nWe suspect no, as that ARKK Gamma vicious circle doesn't appear to be disappearing anytime soon.\nThe dramatic rebound this morning is explained by just how much more “skew” there is in the QQQ model.\n\nAs SpotGamma explains,this supports that view of much larger volatility, both in dealers selling as Nasdaq moves lower and buying if Nasdaq rises.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":193884634,"gmtCreate":1620779760028,"gmtModify":1631884222243,"author":{"id":"3580530961144265","authorId":"3580530961144265","name":"Vincewjs","avatar":"https://static.tigerbbs.com/b82f615cebf44420a077b013694f231d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Just don't see a portfolio of mine without tech related investments...Tech is an important source to drive any economy forward since life existed...don't understand if anyone&nbsp;would ever bet&nbsp;against tech in the long run. Don't seem wise in my opinion","listText":"Just don't see a portfolio of mine without tech related investments...Tech is an important source to drive any economy forward since life existed...don't understand if anyone&nbsp;would ever bet&nbsp;against tech in the long run. Don't seem wise in my opinion","text":"Just don't see a portfolio of mine without tech related investments...Tech is an important source to drive any economy forward since life existed...don't understand if anyone would ever bet against tech in the long run. Don't seem wise in my opinion","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193884634","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":193176710,"gmtCreate":1620777783730,"gmtModify":1634196444815,"author":{"id":"3583811117795819","authorId":"3583811117795819","name":"snd","avatar":"https://static.tigerbbs.com/489eabf54a7f41df714f354de59deefd","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Haha","listText":"Haha","text":"Haha","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193176710","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":193176802,"gmtCreate":1620777755106,"gmtModify":1634196445373,"author":{"id":"3583811117795819","authorId":"3583811117795819","name":"snd","avatar":"https://static.tigerbbs.com/489eabf54a7f41df714f354de59deefd","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Great article, thanks thanks thanks.&nbsp;","listText":"Great article, thanks thanks thanks.&nbsp;","text":"Great article, thanks thanks thanks.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/193176802","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":193142663,"gmtCreate":1620777395952,"gmtModify":1631884222259,"author":{"id":"3569313801991301","authorId":"3569313801991301","name":"开开心心好心情的兄弟","avatar":"https://static.tigerbbs.com/dff103551cc901aee1ee3b3d32ec232c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Just buy more la. Don't be a scary cat. Trust the right side of innovation","listText":"Just buy more la. Don't be a scary cat. Trust the right side of innovation","text":"Just buy more la. Don't be a scary cat. Trust the right side of innovation","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":4,"repostSize":0,"link":"https://laohu8.com/post/193142663","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4297279,"gmtCreate":1620778980785,"gmtModify":1635497603973,"authorId":3574119575606145,"author":{"id":3574119575606145,"authorId":3574119575606145,"name":"L1324","avatar":"https://static.tigerbbs.com/b05b9f32dd8af2590c80da38d48e37fc","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193142663,"type":1,"supId":0,"prevId":0,"content":"did i bet on the wrong side?  [捂脸]","text":"did i bet on the wrong side?  [捂脸]","html":"did i bet on the wrong side?  [捂脸]"},{"id":4313881,"gmtCreate":1620903345351,"gmtModify":1635496280850,"authorId":3569313801991301,"author":{"id":3569313801991301,"authorId":3569313801991301,"name":"开开心心好心情的兄弟","avatar":"https://static.tigerbbs.com/dff103551cc901aee1ee3b3d32ec232c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193142663,"type":1,"supId":0,"prevId":0,"content":"stock is waiting game. only those if patient will win","text":"stock is waiting game. only those if patient will win","html":"stock is waiting game. only those if patient will win"},{"id":4322494,"gmtCreate":1620959312984,"gmtModify":1635495645506,"authorId":3569313801991301,"author":{"id":3569313801991301,"authorId":3569313801991301,"name":"开开心心好心情的兄弟","avatar":"https://static.tigerbbs.com/dff103551cc901aee1ee3b3d32ec232c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193142663,"type":1,"supId":0,"prevId":0,"content":"those with patience will get the last laugh. endure 👍","text":"those with patience will get the last laugh. endure 👍","html":"those with patience will get the last laugh. endure 👍"},{"id":4334383,"gmtCreate":1621051865073,"gmtModify":1635494702889,"authorId":3569313801991301,"author":{"id":3569313801991301,"authorId":3569313801991301,"name":"开开心心好心情的兄弟","avatar":"https://static.tigerbbs.com/dff103551cc901aee1ee3b3d32ec232c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193142663,"type":1,"supId":0,"prevId":0,"content":"see the stock is rocket . 😉","text":"see the stock is rocket . 😉","html":"see the stock is rocket . 😉"}],"langContent":"EN"},{"id":193120804,"gmtCreate":1620776219108,"gmtModify":1634196474027,"author":{"id":"3563000008783601","authorId":"3563000008783601","name":"Xrealm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Old","listText":"Old","text":"Old","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193120804","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4296452,"gmtCreate":1620776238836,"gmtModify":1635497677872,"authorId":3563000008783601,"author":{"id":3563000008783601,"authorId":3563000008783601,"name":"Xrealm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193120804,"type":1,"supId":0,"prevId":0,"content":"<u>foef</u>","text":"<u>foef</u>","html":"<u>foef</u>"}],"langContent":"EN"},{"id":193162626,"gmtCreate":1620776023765,"gmtModify":1634196477287,"author":{"id":"3574381604982902","authorId":"3574381604982902","name":"Jkan","avatar":"https://static.tigerbbs.com/9e5803c697580c21a815764131d05679","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Gd","listText":"Gd","text":"Gd","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/193162626","repostId":1138008630,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":4296454,"gmtCreate":1620776245343,"gmtModify":1635497677653,"authorId":3563000008783601,"author":{"id":3563000008783601,"authorId":3563000008783601,"name":"Xrealm","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":193162626,"type":1,"supId":0,"prevId":0,"content":"<u>vub</u>","text":"<u>vub</u>","html":"<u>vub</u>"}],"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":219,"commentSize":41,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.25.1","shortVersion":"4.25.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1138008630"}