When the Bonds Break

Markets Stagnate, volatility subsides
a) good week to be positive theta
b) volatility contracts to near lowest point since onset of covid
c) vol of vol on the rise – VVIX

Inverted Skew Becomes the Norm in Equities
— AMZN, TSLA
— debit call spreads helped by skew – NVDA
— put spreads trade LOW relative to call spreads in index products

Bond Selling Continues… is this the breaking point?
–rise in rates to dramatic?
–Financials hold the key

SPX Expected Move
–last week– 63.34 (expected move)
–next week– 57.45 (4 day trading week)

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