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2021-06-18

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2021-06-18

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Hong Kong stocks post weekly loss after Fed's hawkish turn

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Hong Kong to Begin Handing Out HK$5,000 Vouchers in August

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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\">\nHong Kong stocks post weekly loss after Fed's hawkish turn\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-18 16:27</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>* HK-&gt;Shanghai Connect daily quota used -0.3%, Shanghai-&gt;HK daily quota used 3.2%</p>\n<p>* HSI +0.9%, HSCE +0.5%, CSI300 +0.0%</p>\n<p>* FTSE China A50 -0.8%</p>\n<p>SHANGHAI, June 18 (Reuters) - Hong Kong stocks ended higher on Friday on the back of gains in tech and healthcare firms, but posted weekly losses after the U.S. Federal Reserve this week projected higher interest rates in 2023.</p>\n<p>** At the close of trade, the Hang Seng index was up 242.68 points, or 0.85%, at 28,801.27. The Hang Seng China Enterprises index rose 0.54% to 10,646.39.</p>\n<p>** Leading the gains, the Hang Seng tech index added 1.8%, while the Hang Seng healthcare index climbed 3.3%.</p>\n<p>** The sub-index of the Hang Seng tracking energy shares&nbsp;dipped 2.9%, while the IT sector rose 1.58%, the financial sector ended 0.53% lower and the property sector dipped 0.35%.</p>\n<p>** The top gainer on the Hang Seng was WuXi Biologics (Cayman) Inc , which gained 9.35%, while the biggest loser was China Resources Land Ltd , which fell 4.36%.</p>\n<p>** For the week, the HSI eased 0.1%, while the HSCE shed 1%.</p>\n<p>** Federal Reserve officials, increasingly confident the U.S. economy is recovering fast from the pandemic-induced recession, have begun telegraphing an exit from the central bank's extraordinarily easy monetary policy that so far is smoother and signaled to be speedier than when the reins were tightened after the last crisis.</p>\n<p>** China's main Shanghai Composite index closed down 0.01% at 3,525.10 points, while the blue-chip CSI300 index&nbsp;ended up 0.01%.</p>\n<p>** Around the region, MSCI's Asia ex-Japan stock index&nbsp;was firmer by 0.05%, while Japan's Nikkei index&nbsp;closed down 0.19%.</p>\n<p>** The yuan was quoted at 6.442 per U.S. dollar at 08:09, 0.11% firmer than the previous close of 6.449.</p>\n<p>** At close, China's A-shares were trading at a premium of 38.04% over Hong Kong-listed H-shares.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"02020":"安踏体育","02382":"舜宇光学科技","HSI":"恒生指数","02269":"药明生物","01109":"华润置地"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2144005727","content_text":"* HK->Shanghai Connect daily quota used -0.3%, Shanghai->HK daily quota used 3.2%\n* HSI +0.9%, HSCE +0.5%, CSI300 +0.0%\n* FTSE China A50 -0.8%\nSHANGHAI, June 18 (Reuters) - Hong Kong stocks ended higher on Friday on the back of gains in tech and healthcare firms, but posted weekly losses after the U.S. Federal Reserve this week projected higher interest rates in 2023.\n** At the close of trade, the Hang Seng index was up 242.68 points, or 0.85%, at 28,801.27. The Hang Seng China Enterprises index rose 0.54% to 10,646.39.\n** Leading the gains, the Hang Seng tech index added 1.8%, while the Hang Seng healthcare index climbed 3.3%.\n** The sub-index of the Hang Seng tracking energy shares dipped 2.9%, while the IT sector rose 1.58%, the financial sector ended 0.53% lower and the property sector dipped 0.35%.\n** The top gainer on the Hang Seng was WuXi Biologics (Cayman) Inc , which gained 9.35%, while the biggest loser was China Resources Land Ltd , which fell 4.36%.\n** For the week, the HSI eased 0.1%, while the HSCE shed 1%.\n** Federal Reserve officials, increasingly confident the U.S. economy is recovering fast from the pandemic-induced recession, have begun telegraphing an exit from the central bank's extraordinarily easy monetary policy that so far is smoother and signaled to be speedier than when the reins were tightened after the last crisis.\n** China's main Shanghai Composite index closed down 0.01% at 3,525.10 points, while the blue-chip CSI300 index ended up 0.01%.\n** Around the region, MSCI's Asia ex-Japan stock index was firmer by 0.05%, while Japan's Nikkei index closed down 0.19%.\n** The yuan was quoted at 6.442 per U.S. dollar at 08:09, 0.11% firmer than the previous close of 6.449.\n** At close, China's A-shares were trading at a premium of 38.04% over Hong Kong-listed H-shares.","news_type":1},"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166516358,"gmtCreate":1624017150374,"gmtModify":1631887395282,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166516358","repostId":"1164089282","repostType":4,"repost":{"id":"1164089282","pubTimestamp":1624007666,"share":"https://www.laohu8.com/m/news/1164089282?lang=&edition=full","pubTime":"2021-06-18 17:14","market":"hk","language":"en","title":"Hong Kong to Begin Handing Out HK$5,000 Vouchers in August","url":"https://stock-news.laohu8.com/highlight/detail?id=1164089282","media":"bloomberg","summary":"Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help bo","content":"<p>Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.</p>\n<p>Those eligible will be able to register for the vouchers from July 4 to Aug. 14, Financial Secretary Paul Chan said at a briefing Friday. The vouchers, available through payment systems such as theOctopustransit card, Alipay and WeChat Pay, will be usable to pay for things such as retail shopping and public transport.</p>\n<p>The funds will be paid out in three installments starting from as soon as Aug. 1.</p>\n<p>The spending vouchers were first announced by Chan in hisbudgetspeech in February along with plans to provide loans for the unemployed to stimulate consumption as the city gradually begins recovering from the pandemic. While theeconomyended its record recession in the first quarter andjoblessnessis declining, retail spending remains weak.</p>","source":"lsy1584095487587","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>Hong Kong to Begin Handing Out HK$5,000 Vouchers in August</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\">\nHong Kong to Begin Handing Out HK$5,000 Vouchers in August\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 17:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.\nThose eligible will be able to register for the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164089282","content_text":"Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.\nThose eligible will be able to register for the vouchers from July 4 to Aug. 14, Financial Secretary Paul Chan said at a briefing Friday. The vouchers, available through payment systems such as theOctopustransit card, Alipay and WeChat Pay, will be usable to pay for things such as retail shopping and public transport.\nThe funds will be paid out in three installments starting from as soon as Aug. 1.\nThe spending vouchers were first announced by Chan in hisbudgetspeech in February along with plans to provide loans for the unemployed to stimulate consumption as the city gradually begins recovering from the pandemic. While theeconomyended its record recession in the first quarter andjoblessnessis declining, retail spending remains weak.","news_type":1},"isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166516937,"gmtCreate":1624017135529,"gmtModify":1631887395293,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"....","listText":"....","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166516937","repostId":"1133723804","repostType":4,"repost":{"id":"1133723804","pubTimestamp":1624006285,"share":"https://www.laohu8.com/m/news/1133723804?lang=&edition=full","pubTime":"2021-06-18 16:51","market":"fut","language":"en","title":"Some Commodities Have Now Wiped Out All of Their 2021 Rally","url":"https://stock-news.laohu8.com/highlight/detail?id=1133723804","media":"Bloomberg","summary":"(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the","content":"<p>(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.</p>\n<p>Soybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.</p>\n<p>The fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.</p>\n<p>Some materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.</p>\n<p>“Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”</p>\n<p>Even some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.</p>\n<p>Soybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.</p>","source":"lsy1612507957220","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>Some Commodities Have Now Wiped Out All of Their 2021 Rally</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\">\nSome Commodities Have Now Wiped Out All of Their 2021 Rally\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 16:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.\nSoybean futures have erased their 2021 advance, ...</p>\n\n<a href=\"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/amid-talk-supercycle-commodities-wipe-181326277.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1133723804","content_text":"(Bloomberg) -- For all the talk of a commodities boom, some markets have now wiped out gains for the year and several more are close to doing so.\nSoybean futures have erased their 2021 advance, sliding more than 20% from an eight-year high reached in May, while corn and wheat have also tumbled. The Bloomberg Grains Spot Subindex slid the most since 2009 on Thursday, before edging higher on Friday as markets recovered some losses. Other commodities that have seen their big rallies evaporate include platinum, while once-surging nickel, sugar and even lumber have faltered.\nThe fact that some markets are falling while others -- including crude oil and tin -- are holding gains underscores how unevenly the complex is responding to economies reopening and expanding once again. While those materials have climbed on strong demand fundamentals, others face their own unique headwinds, such as an easing supply worries in soybeans and monetary policy uncertainty in the case of gold and silver.\nSome materials also took a hit this week on the Federal Reserve’s signals for interest-rate increases, a rising dollar and China’s efforts to slow inflation. The Asian country has said it will release metals from state reserves in a timely manner to push prices back to a normal range, ramping up efforts to cool the surge in commodities.\n“Risk-off is front and center thanks to the hawkish words from the Fed, which came on the back of the Chinese government-led directives over prior weeks,” said Michael Cuoco, head of hedge-fund sales for metals and bulk materials at StoneX Group. “Central-bank stimulus helped the markets gather steam in the spring of 2020, and now there is a bit of a macro reset.”\nEven some of the markets that are clearly benefiting from the reopening are seeing a pullback, with copper heading for its worst week in more than a year. A big backwardation in many commodities and seasonality accounts for some of the recent slump as futures contracts roll over, while improving weather is hurting prices of many agricultural products.\nSoybean futures in Chicago bounced more than 2% on Friday, but are still heading for a weekly loss of about 11%, the worst performance in seven years. Corn and wheat also recovered a part of Thursday’s declines.Base metals were mixed following losses on Thursday. Copper fell 0.8% on the London Metal Exchange and headed for its biggest weekly loss since March 2020. Nickel rose 0.9%. Iron ore slid 1.2% in Singapore.Precious metals rebounded, after substantial declines. Gold added 1.1%, while palladium rose about 3% after Thursday’s 11% slump.Chinese futures caught up with the overnight rout. Rapeseed and soybean oil slid, and copper and zinc dropped.","news_type":1},"isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166518177,"gmtCreate":1624017115699,"gmtModify":1631887395309,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"tesla&nbsp;","listText":"tesla&nbsp;","text":"tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166518177","repostId":"2144172072","repostType":4,"repost":{"id":"2144172072","pubTimestamp":1624007350,"share":"https://www.laohu8.com/m/news/2144172072?lang=&edition=full","pubTime":"2021-06-18 17:09","market":"us","language":"en","title":"Old car makers are the hot new trade: Morning Brief","url":"https://stock-news.laohu8.com/highlight/detail?id=2144172072","media":"Yahoo Finance","summary":"The past is outperforming the future this year.\nWe're less than a week out from the halfway point of","content":"<p>The past is outperforming the future this year.</p>\n<p>We're less than a week out from the halfway point of 2021.</p>\n<p>And <a href=\"https://laohu8.com/S/AONE\">one</a> of the big real economy stories this year has been the explosion in demand for cars. This has pushed up prices, particularly for used cars.</p>\n<p>And while most used cars, and those on the road today, are running on internal combustion engines (ICE), the industry agrees that electric vehicles (EVs) are the future. For the last decade, the best way to play that trend has been via Tesla (TSLA). Shareholders in that particular trade have been rewarded handsomely: since June 2011, the car maker's shares are up over 10,000%.</p>\n<p>This year, however, investors have been betting that the industry's old guard can make their businesses work better in an electrified future.</p>\n<p>Through Thursday's close, shares of Ford (F) and General Motors (GM) were both up more than 40%, outpacing both the broader market and all of the market's buzziest names in the EV space.</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/8b210f3a56c6cba72ed1fbbf47bd815c\" tg-width=\"1230\" tg-height=\"498\" referrerpolicy=\"no-referrer\"><span>Ford and GM have been the leading auto stocks in 2021 as investors bet they can benefit in a growing economy and see returns from big investments in electric cars. (Source: Yahoo Finance)</span></p>\n<p>At an industry conference on Thursday, Ford CEO Jim Farley said the company's second quarter earnings were likely to come in better than expected. Earlier this week, GM announced that it would increase its investment in electric vehicles to $35 billion from $27 billion through 2025.</p>\n<p>And it was only a few weeks back that Ford announced its own ambitious plans to electrify more of its fleet, unveiling an electric F-150, its best-selling ICE vehicle, while unveiling plans to invest $30 billion in electric vehicle development over the next five years.</p>\n<p>This year's rally in shares of GM and Ford also remind us (in yet another way) how different this recovery has been from what we endured after the financial crisis.</p>\n<p>GM and Chrysler went bankrupt during the 2008-09 recession; Ford just barely staved off that fate. This time around, these companies are parlaying a surge in consumer demand into increased investments in trying to keep up with the Teslas of the world.</p>\n<p>These announcements out of Ford and GM also come as upstart competitors like Nikola (NKLA) and Lordstown Motors (RIDE) struggle to accurately communicate with investors. Nikola shares, which fell over 50% in 2020, were up about 11% this year through Thursday's close, while Lordstown's stock has been just about cut in half this year. Both Nikola and Lordstown replaced their chief executives after bold pronouncements about orders and capabilities for their vehicles didn't check out.</p>\n<p>Elon Musk's iconoclastic style at Tesla is much imitated but never duplicated by companies hoping to position themselves as the \"next Tesla.\" Tesla's Technoking really is <a href=\"https://laohu8.com/S/AONE.U\">one</a> of one.</p>\n<p>In the years before the pandemic, Tesla's rise and the industry's electrified future pressured shares of Ford, GM, and other automakers. From the time GM emerged from bankruptcy in the fall of 2010, shares of both GM and Ford were trounced by the overall market. This year's gain does not erase that underperformance. And the lead the traditional auto industry has staked on Tesla becoming the leading electric vehicle brand will be hard to overcome.</p>\n<p>But today, what investors seem to see in Ford and GM is at least a chance. A chance to benefit from the post-pandemic economic expansion. And a chance at remaining a major player in the electrified auto market of tomorrow.</p>","source":"yahoofinance","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>Old car makers are the hot new trade: Morning Brief</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\">\nOld car makers are the hot new trade: Morning Brief\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 17:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/old-car-makers-are-the-hot-new-trade-morning-brief-090010592.html><strong>Yahoo Finance</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The past is outperforming the future this year.\nWe're less than a week out from the halfway point of 2021.\nAnd one of the big real economy stories this year has been the explosion in demand for cars. ...</p>\n\n<a href=\"https://finance.yahoo.com/news/old-car-makers-are-the-hot-new-trade-morning-brief-090010592.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NKLA":"Nikola Corporation","TSLA":"特斯拉","GM":"通用汽车","F":"福特汽车","KNSL":"Kinsale Capital Group Inc."},"source_url":"https://finance.yahoo.com/news/old-car-makers-are-the-hot-new-trade-morning-brief-090010592.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2144172072","content_text":"The past is outperforming the future this year.\nWe're less than a week out from the halfway point of 2021.\nAnd one of the big real economy stories this year has been the explosion in demand for cars. This has pushed up prices, particularly for used cars.\nAnd while most used cars, and those on the road today, are running on internal combustion engines (ICE), the industry agrees that electric vehicles (EVs) are the future. For the last decade, the best way to play that trend has been via Tesla (TSLA). Shareholders in that particular trade have been rewarded handsomely: since June 2011, the car maker's shares are up over 10,000%.\nThis year, however, investors have been betting that the industry's old guard can make their businesses work better in an electrified future.\nThrough Thursday's close, shares of Ford (F) and General Motors (GM) were both up more than 40%, outpacing both the broader market and all of the market's buzziest names in the EV space.\nFord and GM have been the leading auto stocks in 2021 as investors bet they can benefit in a growing economy and see returns from big investments in electric cars. (Source: Yahoo Finance)\nAt an industry conference on Thursday, Ford CEO Jim Farley said the company's second quarter earnings were likely to come in better than expected. Earlier this week, GM announced that it would increase its investment in electric vehicles to $35 billion from $27 billion through 2025.\nAnd it was only a few weeks back that Ford announced its own ambitious plans to electrify more of its fleet, unveiling an electric F-150, its best-selling ICE vehicle, while unveiling plans to invest $30 billion in electric vehicle development over the next five years.\nThis year's rally in shares of GM and Ford also remind us (in yet another way) how different this recovery has been from what we endured after the financial crisis.\nGM and Chrysler went bankrupt during the 2008-09 recession; Ford just barely staved off that fate. This time around, these companies are parlaying a surge in consumer demand into increased investments in trying to keep up with the Teslas of the world.\nThese announcements out of Ford and GM also come as upstart competitors like Nikola (NKLA) and Lordstown Motors (RIDE) struggle to accurately communicate with investors. Nikola shares, which fell over 50% in 2020, were up about 11% this year through Thursday's close, while Lordstown's stock has been just about cut in half this year. Both Nikola and Lordstown replaced their chief executives after bold pronouncements about orders and capabilities for their vehicles didn't check out.\nElon Musk's iconoclastic style at Tesla is much imitated but never duplicated by companies hoping to position themselves as the \"next Tesla.\" Tesla's Technoking really is one of one.\nIn the years before the pandemic, Tesla's rise and the industry's electrified future pressured shares of Ford, GM, and other automakers. From the time GM emerged from bankruptcy in the fall of 2010, shares of both GM and Ford were trounced by the overall market. This year's gain does not erase that underperformance. And the lead the traditional auto industry has staked on Tesla becoming the leading electric vehicle brand will be hard to overcome.\nBut today, what investors seem to see in Ford and GM is at least a chance. A chance to benefit from the post-pandemic economic expansion. And a chance at remaining a major player in the electrified auto market of tomorrow.","news_type":1},"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166511576,"gmtCreate":1624017070995,"gmtModify":1631887395317,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi...","listText":"hi...","text":"hi...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166511576","repostId":"2144491778","repostType":4,"repost":{"id":"2144491778","pubTimestamp":1624010166,"share":"https://www.laohu8.com/m/news/2144491778?lang=&edition=full","pubTime":"2021-06-18 17:56","market":"us","language":"en","title":"Adevinta, eBay clear final hurdle in $13 bln advertising tie-up","url":"https://stock-news.laohu8.com/highlight/detail?id=2144491778","media":"Reuters","summary":"* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Tra","content":"<p>* Austrian competition authority OKs deal</p>\n<p>* Firms will form world's No. 1 classified ads group</p>\n<p>* Transaction worth $13 bln at current share price</p>\n<p>* EBay must cut Adevinta stake to no more than 33% (Adds detail, background, shares)</p>\n<p>OSLO, June 18 (Reuters) - U.S. e-commerce group <a href=\"https://laohu8.com/S/EBAY\">eBay</a> and Norway's Adevinta have secured final regulatory approval for a tie-up of their global classified ads businesses, the Norwegian firm said on Friday.</p>\n<p>Under a deal struck last year, Adevinta will acquire eBay's Classifieds Group in return for $2.5 billion in cash and 540 million shares, valuing the transaction at around $13 billion at current stock market prices.</p>\n<p>The final regulatory approval came from the Austrian competition watchdog after eBay agreed to reduce its ownership stake in Adevinta during the next 18 months, the Norwegian firm said.</p>\n<p>The compromise removes the sole outstanding obstacle to the deal following a go-ahead from Britain's Competition and Markets Authority earlier this month.</p>\n<p>\"Adevinta is pleased to announce that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June,\" the Oslo-listed company said in a statement.</p>\n<p>The transaction makes eBay Adevinta's largest shareholder with an overall 44% stake and 33.3% of the vote, and gives the U.S. firm two seats on the company's board. Norway's Schibsted will hold around 39.5% of the votes.</p>\n<p>But as part of the deal with Austria's Federal Competition Authority (FCA), eBay must reduce its financial interest in Adevinta to no more than 33% within 18 months of the transaction's closing, Adevinta said.</p>\n<p>\"The remedies proposed by Adevinta and eBay address the FCA's concern that the transaction could potentially lessen competition in the Austrian market,\" the company said.</p>\n<p>Adevinta's shares were up 2.0% to 165.7 Norwegian crowns at 0917 GMT.</p>\n<p>As part of the overall deal, Schibsted will buy eBay Classifieds Group's Danish assets from Adevinta for $330 million. </p>","source":"yahoofinance","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>Adevinta, eBay clear final hurdle in $13 bln advertising tie-up</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\">\nAdevinta, eBay clear final hurdle in $13 bln advertising tie-up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 17:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Transaction worth $13 bln at current share price\n* EBay must cut Adevinta stake to no more than 33% (...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","EBAY":"eBay","EBAYL":"eBay Inc. 6.0% Notes Due 2056"},"source_url":"https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2144491778","content_text":"* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Transaction worth $13 bln at current share price\n* EBay must cut Adevinta stake to no more than 33% (Adds detail, background, shares)\nOSLO, June 18 (Reuters) - U.S. e-commerce group eBay and Norway's Adevinta have secured final regulatory approval for a tie-up of their global classified ads businesses, the Norwegian firm said on Friday.\nUnder a deal struck last year, Adevinta will acquire eBay's Classifieds Group in return for $2.5 billion in cash and 540 million shares, valuing the transaction at around $13 billion at current stock market prices.\nThe final regulatory approval came from the Austrian competition watchdog after eBay agreed to reduce its ownership stake in Adevinta during the next 18 months, the Norwegian firm said.\nThe compromise removes the sole outstanding obstacle to the deal following a go-ahead from Britain's Competition and Markets Authority earlier this month.\n\"Adevinta is pleased to announce that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June,\" the Oslo-listed company said in a statement.\nThe transaction makes eBay Adevinta's largest shareholder with an overall 44% stake and 33.3% of the vote, and gives the U.S. firm two seats on the company's board. Norway's Schibsted will hold around 39.5% of the votes.\nBut as part of the deal with Austria's Federal Competition Authority (FCA), eBay must reduce its financial interest in Adevinta to no more than 33% within 18 months of the transaction's closing, Adevinta said.\n\"The remedies proposed by Adevinta and eBay address the FCA's concern that the transaction could potentially lessen competition in the Austrian market,\" the company said.\nAdevinta's shares were up 2.0% to 165.7 Norwegian crowns at 0917 GMT.\nAs part of the overall deal, Schibsted will buy eBay Classifieds Group's Danish assets from Adevinta for $330 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160082520,"gmtCreate":1623766648060,"gmtModify":1631887395328,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi .........","listText":"hi .........","text":"hi .........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160082520","isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160083976,"gmtCreate":1623766512495,"gmtModify":1631887395344,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160083976","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","pubTimestamp":1623762167,"share":"https://www.laohu8.com/m/news/1191245053?lang=&edition=full","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p>\n<p>So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p>\n<p><img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p>\n<p>Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p>\n<p><img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p>\n<p>It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p>\n<p><img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p>\n<p><img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p>\n<p>As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets</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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":166511576,"gmtCreate":1624017070995,"gmtModify":1631887395317,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi...","listText":"hi...","text":"hi...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/166511576","repostId":"2144491778","repostType":4,"repost":{"id":"2144491778","pubTimestamp":1624010166,"share":"https://www.laohu8.com/m/news/2144491778?lang=&edition=full","pubTime":"2021-06-18 17:56","market":"us","language":"en","title":"Adevinta, eBay clear final hurdle in $13 bln advertising tie-up","url":"https://stock-news.laohu8.com/highlight/detail?id=2144491778","media":"Reuters","summary":"* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Tra","content":"<p>* Austrian competition authority OKs deal</p>\n<p>* Firms will form world's No. 1 classified ads group</p>\n<p>* Transaction worth $13 bln at current share price</p>\n<p>* EBay must cut Adevinta stake to no more than 33% (Adds detail, background, shares)</p>\n<p>OSLO, June 18 (Reuters) - U.S. e-commerce group <a href=\"https://laohu8.com/S/EBAY\">eBay</a> and Norway's Adevinta have secured final regulatory approval for a tie-up of their global classified ads businesses, the Norwegian firm said on Friday.</p>\n<p>Under a deal struck last year, Adevinta will acquire eBay's Classifieds Group in return for $2.5 billion in cash and 540 million shares, valuing the transaction at around $13 billion at current stock market prices.</p>\n<p>The final regulatory approval came from the Austrian competition watchdog after eBay agreed to reduce its ownership stake in Adevinta during the next 18 months, the Norwegian firm said.</p>\n<p>The compromise removes the sole outstanding obstacle to the deal following a go-ahead from Britain's Competition and Markets Authority earlier this month.</p>\n<p>\"Adevinta is pleased to announce that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June,\" the Oslo-listed company said in a statement.</p>\n<p>The transaction makes eBay Adevinta's largest shareholder with an overall 44% stake and 33.3% of the vote, and gives the U.S. firm two seats on the company's board. Norway's Schibsted will hold around 39.5% of the votes.</p>\n<p>But as part of the deal with Austria's Federal Competition Authority (FCA), eBay must reduce its financial interest in Adevinta to no more than 33% within 18 months of the transaction's closing, Adevinta said.</p>\n<p>\"The remedies proposed by Adevinta and eBay address the FCA's concern that the transaction could potentially lessen competition in the Austrian market,\" the company said.</p>\n<p>Adevinta's shares were up 2.0% to 165.7 Norwegian crowns at 0917 GMT.</p>\n<p>As part of the overall deal, Schibsted will buy eBay Classifieds Group's Danish assets from Adevinta for $330 million. </p>","source":"yahoofinance","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>Adevinta, eBay clear final hurdle in $13 bln advertising tie-up</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\">\nAdevinta, eBay clear final hurdle in $13 bln advertising tie-up\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 17:56 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html><strong>Reuters</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Transaction worth $13 bln at current share price\n* EBay must cut Adevinta stake to no more than 33% (...</p>\n\n<a href=\"https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"QNETCN":"纳斯达克中美互联网老虎指数","EBAY":"eBay","EBAYL":"eBay Inc. 6.0% Notes Due 2056"},"source_url":"https://finance.yahoo.com/news/1-adevinta-ebay-clear-final-091406776.html","is_english":true,"share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","article_id":"2144491778","content_text":"* Austrian competition authority OKs deal\n* Firms will form world's No. 1 classified ads group\n* Transaction worth $13 bln at current share price\n* EBay must cut Adevinta stake to no more than 33% (Adds detail, background, shares)\nOSLO, June 18 (Reuters) - U.S. e-commerce group eBay and Norway's Adevinta have secured final regulatory approval for a tie-up of their global classified ads businesses, the Norwegian firm said on Friday.\nUnder a deal struck last year, Adevinta will acquire eBay's Classifieds Group in return for $2.5 billion in cash and 540 million shares, valuing the transaction at around $13 billion at current stock market prices.\nThe final regulatory approval came from the Austrian competition watchdog after eBay agreed to reduce its ownership stake in Adevinta during the next 18 months, the Norwegian firm said.\nThe compromise removes the sole outstanding obstacle to the deal following a go-ahead from Britain's Competition and Markets Authority earlier this month.\n\"Adevinta is pleased to announce that closing of the transaction will be initiated shortly and is expected to complete on or about 25 June,\" the Oslo-listed company said in a statement.\nThe transaction makes eBay Adevinta's largest shareholder with an overall 44% stake and 33.3% of the vote, and gives the U.S. firm two seats on the company's board. Norway's Schibsted will hold around 39.5% of the votes.\nBut as part of the deal with Austria's Federal Competition Authority (FCA), eBay must reduce its financial interest in Adevinta to no more than 33% within 18 months of the transaction's closing, Adevinta said.\n\"The remedies proposed by Adevinta and eBay address the FCA's concern that the transaction could potentially lessen competition in the Austrian market,\" the company said.\nAdevinta's shares were up 2.0% to 165.7 Norwegian crowns at 0917 GMT.\nAs part of the overall deal, Schibsted will buy eBay Classifieds Group's Danish assets from Adevinta for $330 million.","news_type":1},"isVote":1,"tweetType":1,"viewCount":29,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166516937,"gmtCreate":1624017135529,"gmtModify":1631887395293,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"....","listText":"....","text":"....","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166516937","repostId":"1133723804","repostType":4,"isVote":1,"tweetType":1,"viewCount":58,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166517922,"gmtCreate":1624017475166,"gmtModify":1631887395257,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hello tiger","listText":"hello tiger","text":"hello tiger","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166517922","isVote":1,"tweetType":1,"viewCount":62,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166516640,"gmtCreate":1624017161580,"gmtModify":1631887395271,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166516640","repostId":"2144005727","repostType":4,"isVote":1,"tweetType":1,"viewCount":54,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166516358,"gmtCreate":1624017150374,"gmtModify":1631887395282,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"...","listText":"...","text":"...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166516358","repostId":"1164089282","repostType":4,"repost":{"id":"1164089282","pubTimestamp":1624007666,"share":"https://www.laohu8.com/m/news/1164089282?lang=&edition=full","pubTime":"2021-06-18 17:14","market":"hk","language":"en","title":"Hong Kong to Begin Handing Out HK$5,000 Vouchers in August","url":"https://stock-news.laohu8.com/highlight/detail?id=1164089282","media":"bloomberg","summary":"Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help bo","content":"<p>Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.</p>\n<p>Those eligible will be able to register for the vouchers from July 4 to Aug. 14, Financial Secretary Paul Chan said at a briefing Friday. The vouchers, available through payment systems such as theOctopustransit card, Alipay and WeChat Pay, will be usable to pay for things such as retail shopping and public transport.</p>\n<p>The funds will be paid out in three installments starting from as soon as Aug. 1.</p>\n<p>The spending vouchers were first announced by Chan in hisbudgetspeech in February along with plans to provide loans for the unemployed to stimulate consumption as the city gradually begins recovering from the pandemic. While theeconomyended its record recession in the first quarter andjoblessnessis declining, retail spending remains weak.</p>","source":"lsy1584095487587","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>Hong Kong to Begin Handing Out HK$5,000 Vouchers in August</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\">\nHong Kong to Begin Handing Out HK$5,000 Vouchers in August\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-18 17:14 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august><strong>bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.\nThose eligible will be able to register for the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSI":"恒生指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-06-18/hong-kong-to-begin-handing-out-hk-5-000-vouchers-in-august","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1164089282","content_text":"Hong Kong will begin handing out HK$5,000 ($644)spending vouchersto residents from August to help boost consumption in the pandemic-hit economy.\nThose eligible will be able to register for the vouchers from July 4 to Aug. 14, Financial Secretary Paul Chan said at a briefing Friday. The vouchers, available through payment systems such as theOctopustransit card, Alipay and WeChat Pay, will be usable to pay for things such as retail shopping and public transport.\nThe funds will be paid out in three installments starting from as soon as Aug. 1.\nThe spending vouchers were first announced by Chan in hisbudgetspeech in February along with plans to provide loans for the unemployed to stimulate consumption as the city gradually begins recovering from the pandemic. While theeconomyended its record recession in the first quarter andjoblessnessis declining, retail spending remains weak.","news_type":1},"isVote":1,"tweetType":1,"viewCount":27,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":166518177,"gmtCreate":1624017115699,"gmtModify":1631887395309,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"tesla&nbsp;","listText":"tesla&nbsp;","text":"tesla","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166518177","repostId":"2144172072","repostType":4,"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160082520,"gmtCreate":1623766648060,"gmtModify":1631887395328,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi .........","listText":"hi .........","text":"hi .........","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160082520","isVote":1,"tweetType":1,"viewCount":57,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":160083976,"gmtCreate":1623766512495,"gmtModify":1631887395344,"author":{"id":"3582161274019470","authorId":"3582161274019470","authorIdStr":"3582161274019470","name":"kaikai12456","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3582161274019470"},"themes":[],"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/160083976","repostId":"1191245053","repostType":4,"repost":{"id":"1191245053","pubTimestamp":1623762167,"share":"https://www.laohu8.com/m/news/1191245053?lang=&edition=full","pubTime":"2021-06-15 21:02","market":"us","language":"en","title":"Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets","url":"https://stock-news.laohu8.com/highlight/detail?id=1191245053","media":"zerohedge","summary":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers .So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fis","content":"<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").</p>\n<p>So picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,<b>there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.</b></p>\n<p><img src=\"https://static.tigerbbs.com/0d1ece116794c7f6523250fd682450e3\" tg-width=\"959\" tg-height=\"765\" referrerpolicy=\"no-referrer\"></p>\n<p>Yet while these totals are massive,<b>when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.</b></p>\n<p><img src=\"https://static.tigerbbs.com/534b677774a92a59d4fe08f09359932b\" tg-width=\"500\" tg-height=\"298\" referrerpolicy=\"no-referrer\"></p>\n<p>It's worth noting that according to Goldman estimates that combos account<b>for 15-20% of SPX options,</b>so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.</p>\n<p><img src=\"https://static.tigerbbs.com/adfcada2b0ef3f2ebbd684649a613043\" tg-width=\"936\" tg-height=\"541\" referrerpolicy=\"no-referrer\"></p>\n<p>The Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPX<b>realized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.</b></p>\n<p><img src=\"https://static.tigerbbs.com/afffda1e07736784ad695d95a9936421\" tg-width=\"952\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p>\n<p>This contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.</p>\n<p><img src=\"https://static.tigerbbs.com/df2b7aeaadb37160a7eaf0ac08ba31de\" tg-width=\"1236\" tg-height=\"561\" referrerpolicy=\"no-referrer\"></p>\n<p>Then, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees that<b>the extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"</b>Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:<u><b>the market will become much more volatile in a selloff.</b></u></p>\n<p><img src=\"https://static.tigerbbs.com/76b01b8a05b70ec4f343626b1fad491b\" tg-width=\"931\" tg-height=\"560\" referrerpolicy=\"no-referrer\"></p>\n<p>Meanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.</p>\n<p><img src=\"https://static.tigerbbs.com/9c6c3df49e3e5d1e4a7a0d9c24696e6a\" tg-width=\"1212\" tg-height=\"608\" referrerpolicy=\"no-referrer\"></p>\n<p>One final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.</p>\n<p>As Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,<b>the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,</b>and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"</p>\n<p><img src=\"https://static.tigerbbs.com/bd0e886a62a61c70b0f299bd6c032a24\" tg-width=\"954\" tg-height=\"1128\" referrerpolicy=\"no-referrer\"></p>\n<p>Why is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.<b>Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!</b></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>Quad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets</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\">\nQuad-Witch Quandary: How Will Friday's $2 Trillion Gamma Expiration Impact Markets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-15 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF",".SPX":"S&P 500 Index"},"source_url":"https://www.zerohedge.com/markets/quad-witch-quandary-how-will-fridays-2-trillion-gamma-expiration-impact-markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1191245053","content_text":"Last week, when discussing thebizarre summer doldrumsin the market which pushed the VIX to the lowest level since the onset of the covid pandemic, we said that this period of abnormal market quiet is likely to last until this Friday' quad-witch, when a massive amount of gamma and delta expire and are de-risked, in the process eliminating one of the natural downside stock buffers (see \"4 Reasons Why The Market Doldrums End With Next Friday's Op-Ex\").\nSo picking up on the topic of Friday' potentially market-moving opex, Goldman' in-house derivatives expert, Rocky Fishman, previews June’s upcoming expiration which he dubs as \"large - comparable to a typical quarterly.\" Specifically,there are $1.8 trillion of SPX options expiring on Friday, in addition to $240 billion of SPY options and $200 billion of options on SPX and SPX E-mini futures.\n\nYet while these totals are massive,when adjusted for the index’s size the amount of expiring options within 10% of current spot is smaller than just about any quarterly over the past decade.\n\nIt's worth noting that according to Goldman estimates that combos accountfor 15-20% of SPX options,so an adjusted open interest total would add up to $1.5tln, still much larger than total expiring single stock open interest ($775bln). Furthermore, with stocks at all time highs, it is to be expected that most of the June open interest is below the current SPX spot price. As shown in the chart below, the dual peaks are at 3,900 and 4,150. This means that after Friday, there may be a certain \"anti\"-gravity around those spots until gamma is refilled.\n\nThe Goldman strategist then explains what he believes is below the abnormally low level of realized market vol, noting that - as we discussed last week - it is consistent with long gamma positioning. Consider that SPXrealized volatility over the past 13 trading days has been just 5.1% - the lowest 13-day realized vol since 2019.\n\nThis contrasts with extreme volatility in pockets of the single stock market; AMC, which had the highest contract volume among single stocks last week (but far less notional volume at$7bln/day than AMZN’s leading $120bln/day), has had close to 400% realized vol over the same period.\n\nThen, as Nomura's Charlie McElligott first noted last week, Goldman's derivatives team agrees thatthe extremely low SPX realized volatility is consistent with the possibility that 18-Jun has left “the street” long index gamma, in which case Fishman echoeswhat we said last week, namely that \"realized volatility could pick up once positions are cleaner. \"Meanwhile, the rising beta of VIX futures to the SPX indicates that investors expect short gamma dynamics to pick up should markets sell off. Translation:the market will become much more volatile in a selloff.\n\nMeanwhile, and in keeping with the latest memo stock squeeze, Goldman also notes that while single stock option volumes continue to be high, it is well short of Q1 peaks. The large percentage of all single stock option activity driven by retail, and the predictive value of retail activity, have both heightened the attention on the single stock option market in recent weeks. Recent growth in single stock option activity has been concentrated in low-share-price stocks, leaving a shar prise in contract-volume over the past two weeks that has not been matched by notional volume. When adjusting notional volume for the size of the equity market, Goldman finds that single stock volume has actually been on the low of its 2021 range over the past two weeks which means that the latest ramps had little to no gamma squeeze components to them.\n\nOne final point which we discussed recently and which is in keeping with the growing retail participation in trading, is Goldman's observation that the trend toward shorter-dated SPX options (weeklies) and away from quarterlies, continues. That also is one of the reasons why Friday’s SPX expiration is smaller than many recent quarterlies, and why as it as approached expiration, its trading volume has been falling.\nAs Goldman explains, investors have been increasingly adopting the full calendar of SPX expirations, including expirations every Monday and Wednesday, as they tailor their views around events. In fact,the percentage of SPX option volume happening in 3rd Friday expirations is at an all-time low,and is now smaller than the percentage happening in Monday and Wednesday expirations. One explanation for heightened ultra-short-dated volumes is the strong single stock volumes: and here an interest suggesting from Goldman - \"to the extent market makers are unable to cover the short single stock gamma generated by retail investors’ call buying, they may be actively trading long positions in strips of ultra-short-dated SPX index options to offset this gamma.\"\n\nWhy is this important? because if this trend is large enough, it directly contributes to low implied and realized correlation.Ironically, by ramping single name, \"most-shorted names\", retail investors are ushering a period of unorthodox calm across the rest of the market!","news_type":1},"isVote":1,"tweetType":1,"viewCount":56,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}