In case you haven’t noticed, your tech positions (those would be the positions that performed so well right up until June) are looking increasingly dicey.
You’re encouraged to read more in “Tech Turmoil: Black Swan Vol. Event Burns ETFs, Hedge Funds Dump Nasdaq Longs” and in “This Hasn’t Happened Since 2002” but suffice to say that the Nasdaq “VIX” is now trading at its widest disparity to the S&P VIX since 2002:
Given that, it probably won’t come as a surprise that open interest in QQQ puts is now at a decade high:
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h/t on that goes to our homegirl Dani Burger who, in a travesty of justice, was recently left off New York’s “best burgers list”…
