Grab Your (Left) Tails

Grab Your (Left) Tails

After poking their heads "out of the bunker" beginning early last month, market participants are again demonstrating a propensity to focus on potential downside, which is perhaps not surprising given nosebleed valuations, stretched positioning and renewed virus concerns. Last week, Goldman's Rocky Fishman suggested investors should view the decline in implied vol as an opportunity to add hedges. "The floor in implied volatility that has held since the aftermath of November’s elections was br
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