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Melt-Ups, Crash-Downs And Close Calls
If you're curious, the realization of a latent, mechanical equities bid from vol control cohorts likely provided material support for stocks in recent days.
Between explosive AUM growth for retail products with embedded options (e.g., buy-write ETFs), sundry VRP strats, the dispersion trade and so on, there's a structural vol supply overhang.
Throw in the preponderance of 0DTE option-selling in the ballooning QIS space, and you're left with a market (i.e., spot equities) that can't actualize i
