Macro Theme: Key dates ahead: 5/21 VIX Exp 5/20: Bulls remain in control while SPX >5,925. We press shorts <5,900 (our only current shorts are limited to longer dated put spreads related to 5/13 notes). 5/21 VIX expiration marks the window closing from a...

Macro Theme: Key dates ahead: 5/21 VIX Exp 5/20: Bulls remain in control while SPX >5,925. We press shorts <5,900 (our only current shorts are limited to longer dated put spreads related to 5/13 notes). 5/21 VIX expiration marks the window closing from a...

Macro Theme: Key dates ahead: 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China trade advancements, we are...

Macro Theme: Key dates ahead: 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China trade advancements, we are...

Macro Theme:   Key dates ahead: 5/16 OPEX 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China trade...

Macro Theme: Key dates ahead: 5/15 PPI 5/16 OPEX 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China trade...

Macro Theme: Key dates ahead: 5/15 PPI 5/16 OPEX 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China trade...

Macro Theme: Key dates ahead: 5/13 CPI 5/15 PPI 5/16 OPEX 5/21 VIX Exp 5/13: With the SPX >=5,825, we see Friday's OPEX (5/16) as one of the most call-lopsided expirations ever. We think this may lead to a market correction next week. 5/12: Following the US/China...

Macro Theme: Key dates ahead: 5/11: US/China Tariff Meeting 5/13 CPI 5/5: We continue to see a negative volatility premium in the S&P500, which validates owning 1-2 month put spreads as referenced on 4/25. Those puts were hedged with short dated/Friday exp long...

Macro Theme: Key dates ahead: 5/11: US/China Tariff Meeting 5/5: We continue to see a negative volatility premium in the S&P500, which validates owning 1-2 month put spreads as referenced on 4/25. Those puts were hedged with short dated/Friday exp long call...

Macro Theme: Key dates ahead: 5/11: US/China Tariff Meeting 5/5: We continue to see a negative volatility premium in the S&P500, which validates owning 1-2 month put spreads as referenced on 4/25. Those puts were hedged with short dated/Friday exp long call...

Macro Theme: Key dates ahead: 5/7: FOMC 5/10: US/China Tariff Meeting 5/5: We continue to see a negative volatility premium in the S&P500, which validates owning 1-2 month put spreads as referenced on 4/25. Those puts were hedged with short dated/Friday exp long...