leyvancs
2021-07-16
Like and comment and I'll do the same !
As Stocks Soar, Demand For Downside Risk Hedges Reaches Highest Since 2018
免责声明：上述内容仅代表发帖人个人观点，不构成本平台的任何投资建议。
分享至
微信
复制链接
精彩评论
我们需要你的真知灼见来填补这片空白
打开APP，发表看法
APP内打开
发表看法
2
5
{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":170393954,"tweetId":"170393954","gmtCreate":1626402758078,"gmtModify":1633927059252,"author":{"id":3586649461380855,"idStr":"3586649461380855","authorId":3586649461380855,"authorIdStr":"3586649461380855","name":"leyvancs","avatar":"https://static.tigerbbs.com/c6d87f92e942c5a0c3b06281e083a51a","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":39,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Like and comment and I'll do the same !</p></body></html>","htmlText":"<html><head></head><body><p>Like and comment and I'll do the same !</p></body></html>","text":"Like and comment and I'll do the same !","highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/170393954","repostId":1108771561,"repostType":4,"repost":{"id":"1108771561","pubTimestamp":1626400504,"share":"https://www.laohu8.com/m/news/1108771561?lang=&edition=full","pubTime":"2021-07-16 09:55","market":"us","language":"en","title":"As Stocks Soar, Demand For Downside Risk Hedges Reaches Highest Since 2018","url":"https://stock-news.laohu8.com/highlight/detail?id=1108771561","media":"zerohedge","summary":"While Small Caps have taken a kickin' recently, the broad stock market continues to ascend Icarus-li","content":"<p>While Small Caps have taken a kickin' recently, the broad stock market continues to ascend Icarus-like to ever higher highs on a bed of global liquidity and hope-filled dreams of a return to an even more utopian (and profitable) normal.</p>\n<p>There's just one thing (well two actually, but more on that later)...</p>\n<p>As stocks have hit record-er and record-er highs recently, options traders have been buying puts (downside protection) with both hands and feet...</p>\n<p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\"></p>\n<p><i>Source: Bloomberg</i></p>\n<p>As a result,<b>implied volatility in S&P 500 puts that look three months out reached the highest level since 2018 relative to similar call contracts.</b></p>\n<p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\"></p>\n<p><i>Source: Bloomberg</i></p>\n<p><b>Simply put, despite the appearance of price, investor anxiety is on the rise.</b></p>\n<p>As Susquehanna International Group’s Chris Murphy pointed out in a recent note, the worry is that, should the sentiment sour, correlation between shares that recently hit fresh lows will skyrocket, making stocks drop together at the same time.</p>\n<blockquote>\n <b>“Correlation is currently so low, but if that changes, then everything starts moving together and volatility could move up quickly and the S&P could move to the downside,”</b>Murphy said.\"They’re pricing in that shift of correlation increasing.”\n</blockquote>\n<p><b>And implied correlation is starting to pick up off those near-record lows...</b></p>\n<p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\"></p>\n<p><i>Source: Bloomberg</i></p>\n<p>Of course, one could argue that with downside risk so well hedged, the chances of a big plunge are reduced (or the magnitude of the drop), but we suspect that doesn't apply given the retail exposure in this rally, who have never experienced anything more than a 5% drop in their long and successful 12 month trading careers.</p>\n<p><b>And the other group that \"ain't buying it\" is bond investors</b>as yields have dramatically decoupled from equity markets' exuberance in recent months...</p>\n<p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\"></p>\n<p><i>Source: Bloomberg</i></p>\n<p>It didn't end well for stocks last time...</p>\n<p><img src=\"https://static.tigerbbs.com/cc457c676d14e902be329fbe1bdb929b\" tg-width=\"965\" tg-height=\"535\"><i>Source: Bloomberg</i></p>\n<p>And with Powell admitting that The Fed is talking about the taper today, are options traders and bond traders sensing a catch down to reality for stocks?</p>","collect":0,"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>As Stocks Soar, Demand For Downside Risk Hedges Reaches Highest Since 2018</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\">\nAs Stocks Soar, Demand For Downside Risk Hedges Reaches Highest Since 2018\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-16 09:55 GMT+8 <a href=https://www.zerohedge.com/markets/stocks-soar-demand-downside-risk-hedges-reachest-highest-2018><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While Small Caps have taken a kickin' recently, the broad stock market continues to ascend Icarus-like to ever higher highs on a bed of global liquidity and hope-filled dreams of a return to an even ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/stocks-soar-demand-downside-risk-hedges-reachest-highest-2018\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".IXIC":"NASDAQ Composite",".DJI":"道琼斯",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/stocks-soar-demand-downside-risk-hedges-reachest-highest-2018","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1108771561","content_text":"While Small Caps have taken a kickin' recently, the broad stock market continues to ascend Icarus-like to ever higher highs on a bed of global liquidity and hope-filled dreams of a return to an even more utopian (and profitable) normal.\nThere's just one thing (well two actually, but more on that later)...\nAs stocks have hit record-er and record-er highs recently, options traders have been buying puts (downside protection) with both hands and feet...\n\nSource: Bloomberg\nAs a result,implied volatility in S&P 500 puts that look three months out reached the highest level since 2018 relative to similar call contracts.\n\nSource: Bloomberg\nSimply put, despite the appearance of price, investor anxiety is on the rise.\nAs Susquehanna International Group’s Chris Murphy pointed out in a recent note, the worry is that, should the sentiment sour, correlation between shares that recently hit fresh lows will skyrocket, making stocks drop together at the same time.\n\n“Correlation is currently so low, but if that changes, then everything starts moving together and volatility could move up quickly and the S&P could move to the downside,”Murphy said.\"They’re pricing in that shift of correlation increasing.”\n\nAnd implied correlation is starting to pick up off those near-record lows...\n\nSource: Bloomberg\nOf course, one could argue that with downside risk so well hedged, the chances of a big plunge are reduced (or the magnitude of the drop), but we suspect that doesn't apply given the retail exposure in this rally, who have never experienced anything more than a 5% drop in their long and successful 12 month trading careers.\nAnd the other group that \"ain't buying it\" is bond investorsas yields have dramatically decoupled from equity markets' exuberance in recent months...\n\nSource: Bloomberg\nIt didn't end well for stocks last time...\nSource: Bloomberg\nAnd with Powell admitting that The Fed is talking about the taper today, are options traders and bond traders sensing a catch down to reality for stocks?","news_type":1},"isVote":1,"tweetType":1,"viewCount":207,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":31,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/170393954"}
精彩评论