Macro Theme: Key dates ahead: 8/29: PCE 9/1: Market Closed (Labor Day) Update 8/28: Post NVDA earnings the key upside target remains 6,500-6,525. We update our key "risk off" pivot level to 6,450. A break below there infers a test of 6,400. <6,400 infers a test of...

Macro Theme: Key dates ahead: 8/28: GDP/Jobless Claims 8/29: PCE 9/1: Market Closed (Labor Day) Update 8/28: Post NVDA earnings the key upside target remains 6,500-6,525. We update our key "risk off" pivot level to 6,450. A break below there infers a test of 6,400....

Macro Theme: Key dates ahead: 8/27: NVDA ER 8/28: Jobless Claims 8/29: PCE 8/25: Post JHOLE: At any point moving forward should SPX break under 6,400 this market could get pretty nasty, as that is where negative gamma comes in. Further, that downside action would...

Macro Theme: Key dates ahead: 8/27: NVDA ER 8/28: Jobless Claims 8/29: PCE 8/25: Post JHOLE: At any point moving forward should SPX break under 6,400 this market could get pretty nasty, as that is where negative gamma comes in. Further, that downside action would...

Macro Theme: Key dates ahead: 8/27: NVDA ER 8/28: Jobless Claims 8/29: PCE Update 8/25: Post JHOLE: At any point moving forward should SPX break under 6,400 this market could get pretty nasty, as that is where negative gamma comes in. Further, that downside action...

Macro Theme: Key dates ahead: 8/22: J-HOLE 8/27: NVDA ER Update 8/22: JHOLE plays: 6,300 x 6,250, 6,200 put flies, or 6,200 x 6,100 x 6,000 Monday put flies as a way to express lotto downside. Upside we like Mon/Tue 6,450 x 6,500 call spreads or flies. We elect for...

Macro Theme: Key dates ahead: 8/22: J-HOLE 8/27: NVDA ER Update 8/18: Per recent updates, due to 11-12% SPX IV's we want to now own a small amount of Sep put, and/or Sep VIX call spreads into JHOLE & NVDA (8/27), while maintaining a core long position as long as...

Macro Theme: Key dates ahead: 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER Update 8/18: Per recent updates, due to 11-12% SPX IV's we want to now own a small amount of Sep put, and/or Sep VIX call spreads into JHOLE & NVDA (8/27), while maintaining a core long...

Macro Theme: Key dates ahead: 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER Update 8/18: Per recent updates, due to 11-12% SPX IV's we want to now own a small amount of Sep put, and/or Sep VIX call spreads into JHOLE & NVDA (8/27), while maintaining a core long...

Macro Theme: Key dates ahead: 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER Update 8/18: Per recent updates, due to 11-12% SPX IV's we want to now own a small amount of Sep put, and/or Sep VIX call spreads into JHOLE & NVDA (8/27), while maintaining a core long...

Macro Theme: Key dates ahead: 8/15: OPEX 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER Update 8/13: Our new risk pivot is 6,400. We are looking for a tag of 6,500 into Friday, which implies the bulk of SPX short term gains are now made (ref SPX 6,459). Per yesterdays...

Macro Theme: Key dates ahead: 8/14: PPI 8/15: OPEX 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER Update 8/13: Our new risk pivot is 6,400. We are looking for a tag of 6,500 into Friday, which implies the bulk of SPX short term gains are now made (ref SPX 6,459). Per...