SPX Gamma Update
The idea of a pre-OPEX rally was trash and the SNB hike was too much of a black swan for markets to handle. Also US data is looking awful and Russia is stepping up his energy game, which will only mean one thing: Energy inflation will continue to rise faster.
At 3550 dealers would start buying back futures, but that is a cold comfort. Nobody wants to go there.
Also dead is the idea of a Fed put as Fed Funds Futures remain unchanged. Zoltan knew back in February.
At 3550 dealers would start buying back futures, but that is a cold comfort. Nobody wants to go there.
Also dead is the idea of a Fed put as Fed Funds Futures remain unchanged. Zoltan knew back in February.
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