Join institutional investors, analysts and strategists from the world's largest banks: Subscribe today
Already have an account? log in
Nomura’s McElligott On China’s ‘7 Deadly Sins’ And ‘Massively Skewed’ Investor Flows
Late last week, in the course of detailing both the mechanics behind the Tuesday-Wednesday rout in US/European equities and the case for the bounce which played out to fairly dramatic effect on Friday, we went back over the familiar dynamics which often contribute to exaggerated price action.
The emphasis was on option hedging dynamics and CTA flows. Earlier in the week, Nomura's Charlie McElligott cautioned that "US Equities were very much in the crosshairs of CTA deleveraging... which then tr
“The ‘partial’ trade deal story was floated into the ether last week, and only generated a ‘meh’ market response, because most realize that there is no substance if a deal doesn’t address ‘the seven deadly sins’”. I don’t think stocks care about any of the “deadly sins” except to the extent that they could derail a deal that rolls back tariffs and ag purchase cuts.
I’m convinced that gamma positioning matters, at least in determining the magnitude of short-term moves. For us plebes who lack a Bloomberg terminal and analyst subscriptions, is anyone aware of a publically available, reasonably up-to-date source of gamma estimates? A data feed from an exchange, perhaps? Or do I need to wait for my semiweekly H fix of twice-distilled colorful commentary?
I’ll keep reading in any case! But it would be interesting to track some of this data on my own. Alas, my charting tools of choice (tradeview and koyfin) don’t know diddly squat about derivatives.
https://squeezemetrics.com/monitor/dix?
Thanks; that’ll do!