TradingEdge

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AUD suffering as a risk off trade, but at todays RBA meeting, RBA struck a hawkish tone and raised their core inflation targets. That would normally be bullish for AUDUSD, but not so with such risk off sentiment in the market atm.	42
TLT is higher again. Hence bond yields remain udner pressure. Call delta strong up to 100. We see in image 3, its following chart of JPYUSD. As long as JPYUSD remains high, TLT will see upward pressure.	42
Gold looking like a good hedge. As mentioned, skew is also pointing higher. Benefits from safe haven appeal in recessionary scenario, benefits from rate cuts too on weakening dollar. Seems a safe trade more or less.	41
AAPL positioning. Not often you see AAPL down 8%. The BUffett selling news was always going to scare some bears, but is ultimately not that important. Anwyay, positioning shows strong ITM positioning still (mostly skewed to calls). Traders bearish bets cool off below 200, as we see put delta decline	41
IWM skew shows traders are receding their bullish bets for now on recessionary risk. Dow Jones too. QQQ and SPY skew bearish but not so sharply, as positioning was already skewed to downside. The squeeze was cut short and traders move increasingly bearish right now going into jobs numbers.	41
MELI positioning looking v bullish. If we break that put delta at 1800, we probably rip to 1900, since there is little to no put delta ITM between 1800 and 1900.	40
Nasdaq trading at key technical level at highs from march. Thats a lot of rally that's just been wiped out. Has to try and hold this level. Traders buying puts on 440. 445 has small support if this technical level breaks on qqq.	40
GOOGL bearish positioning ITM of course, but put delta declining signficantly below 150. We see support in around 147-150, should we reach that low.	40
Gold being dragged this morning, but on the whole positioning still bullish on safe haven trade. ITM call delta is supportive at 215. 225 looks a resistance but traders still hold calls on 230.	40
Recessionary risk from ISM data yesterday has hurt the positioning on small caps quite signifanclty. This was positoning yday (pic 1). Here today, (pic 2). We see traders have sold ITM calls and bought puts. 210 is a support with call delta there, whcih will be retest. Skew sharply lower. Lets see.	39

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