‘You Are Now Free To Move About The Cabin’

The volatility expansion window is now open. The question is whether discretionary investors look to push the bearish envelope. Dealers were in negative gamma territory vis-à-vis US equities following Friday's options expiration, according to Nomura's Charlie McElligott. "You are now free to move about the cabin," he quipped, describing the loss of substantial "gravity" which had worked to keep spot equities pinned of late. The gamma "unclench" opens the door to, but doesn't guarantee, a lar

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3 thoughts on “‘You Are Now Free To Move About The Cabin’”

Powell’s Jackson Hole appearance is just a prepared speech with no Q&A, right? Seems he should be able to deliver the correct messaging with help from the teleprompter.