TradingEdge

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MM look like they will try to keep SPY price above 500. That is where there is solid call delta built up. Put delta below there is limited too. Volume is crazy today though. As mentioned, watch VIX.	49
Nomura over the weekend: According to Nomura, volatility control funds have sold $83.6 billion worth of futures due to the volatility shock. An additional 1% decline could trigger another $15 billion in sales over the next two weeks, exacerbating the sell-off. We saw this 1% drop and some. SEE POST	46
CTAs are net sellers until 5000 on SPX while asset managers still go long. This is additional bearish pressure. We probably cotninue to see pressure on indices into August OPEX. LEt's see what Feds reaction function is like right now. Dems dont want a market crash into election lol. Keep eye on VIX.	46
MSFT. Positioning bearish, less so than others. Small cal delta at 400 amkes it a support. Also a spychological level. Not much put delta below 390-400, hence traders see a bottom around here for now.	45
IWM will try to recover the call delta at 200. MM will try to get us above there. SHould we fail though on more vix spike, next support down at 195, but put delta increases till 190. 190 looks like a botom as no put delta below there. hence traders dont bet on lower.	45
Market positioning weakening on recessionary risk. Traders bearish. But BUllish on GOld as safe haven asset. Here we see skew remains sharply higher. Traders expect gold to run. So too with SIlver, with skew being shown in 2nd image there. Traders are moving increasingly bullish on precious metals.	45
Positioning on IWM looks like a break below 208 can send us to 205. I say this because between 208 and 205, there is limited call delta as support. A break below 205, and we see limited call delta till 200 which is a v strong support. Traders have fipped on IWM near term due to recessionary risk.	45
Following NFP, SPY is trading below the gap fill in premarket. If cannot recover that early, looks like heads to next support down at 530. Put delta on 540 v large hence strong resistnace. Traders remain bearish, positioning building on 520P.	44
Bitcoin hit 50k target. if we break below, then probably see bottom at around 47k. Let's see.	43
DDOG into earnings. positioning looks bearish. increasing puts OTM as low as 95. Traders are still holding some calls on 120, but these look like hedges, with the main bias to the downside. Traders are buying calls in todays session. lets see. bias looks bearish	42

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