Apologies to whoever the hell Jim Strugger is because Jim didn’t have any control over when Bloomberg decided to push this out, but I think you’ll agree that it is nevertheless pretty hilarious.
So here’s Jim:
Risk-Reward of Adding Hedges ‘Laughable’ Given Vol Surface: MKM
Given the dynamics of the volatility surface, the risk-reward of adding protection over the next few months is “laughable,” MKM derivatives strategist Jim Strugger writes in a note.
I don’t know about anyone else, but it looks to me like that ran at 9:45.
Here’s the timestamp:
Odds are, VIX will be monkey-hammered lower for the rest of the day (and especially into the close) and again, Jim had no control over the timing there.
But that doesn’t change the fact that that is some “laughable” shit right there…