Exodus
US investors were subjected to another ludicrous session Tuesday as markets remained hostage to Ukraine headlines.
Equities continue to exhibit precisely the kind of whipsaw price action you'd expect given the setup described here earlier this week. Simply put, stocks aren't tradable.
"Equities are effectively near peak 'short Gamma,' with absolute extremes in 'short Delta,' feeding explosive two-way moves" on dealer hedging flows, Nomura's Charlie McElligott wrote. A day on from its worst ses
FINALLY re: the Bloomberg explanation for wild intraday moves.
Of course, I will fall out of my chair if the topic is ever broached on CNBC (…and please don’t cite “Options Action” on Friday afternoons … They should call it “Diagonal Call Spreads Action”)