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: 8/14: 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...

Macro Theme: Key dates ahead: 8/12: CPI 8/15: OPEX 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER UPDATE 8/12: We want to remain long of stocks with the SPX is >6,350. We will also being looking to own end-of-August SPX puts and/or VIX calls into CPI on the basis that IV...

Macro Theme: Key dates ahead: 8/12: CPI 8/15: OPEX 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER 7/30: We recommend ~8/11-8/15 exp 6,500 calls as an upside play out of FOMC, GDP, NFP and Mag 7 earnings. This is because they are trading at a 9-10% IV, and we think a vol...

Macro Theme: Key dates ahead: 8/12: CPI 8/15: OPEX 8/20: VIX EXP 8/23: J-HOLE 8/27: NVDA ER 7/30: We recommend ~8/11-8/15 exp 6,500 calls as an upside play out of FOMC, GDP, NFP and Mag 7 earnings. This is because they are trading at a 9-10% IV, and we think a vol...

Macro Theme: Key dates ahead: 8/7 Tariff Deadline 8/12: CPI 7/30: We recommend ~8/11-8/15 exp 6,500 calls as an upside play out of FOMC, GDP, NFP and Mag 7 earnings. This is because they are trading at a 9-10% IV, and we think a vol contraction + giant positioning at...

Macro Theme: Key dates ahead: 8/5: PMI 8/12: CPI 7/30: We recommend ~8/11-8/15 exp 6,500 calls as an upside play out of FOMC, GDP, NFP and Mag 7 earnings. This is because they are trading at a 9-10% IV, and we think a vol contraction + giant positioning at 6,500 could...

Macro Theme: Key dates ahead: 7/31: Jobless Claims, AAPL, AMZN, MSTR, COIN 8/1: NFP, PMI Update 8/1: Puts & VIX calls are paying, and we look to close and/or roll that sliver of puts today as SPX popped into risk-off levels <6,300. We see an ultimate possible...

Macro Theme: ¿Key dates ahead: 7/30: GDP, FOMC 7/31: Jobless Claims 8/1: NFP, PMI Update 7/28: SMH 1-month options scan as both very low IV, and neutral call vs put prices. As such we will be adding 1-month ~300 strike SMH calls into the upcoming earnings deluge (ref...

Macro Theme: Key dates ahead: 7/24: Jobless Claims, Trump visit Fed 7/30: FOMC 8/1: Tariff Deadline Update: 7/23: Trade deals and extensions have re-pumped the bulls, and so we look to maintain longs as long as the SPX remains above the risk pivot. Further, it appears...

Macro Theme: Key dates ahead: 7/17: Jobless Claims 7/30: FOMC July OPEX Playbook: Update 7/10: Call skews are getting quite elevated and so we are looking to ~1-month sell call skew in select names - most notably SPY. Check Compass for other names. We will also be...