Flow is not a signal, it is a question
It traded at 745.04, +0.32% on the session. Large options prints get reported as conviction. Most of them are somebody hedging.
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QQQSPY
Today's market movers
Delayed quotes · 3 up · 3 downLatest in Options & Vol
View feedEarnings implied moves price the second-source story generously
The gap between implied moves and delivered moves on recent results.
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Cheap downside protection says complacency, and complacency can last
When index puts are cheap relative to calls, nobody is worried. That is a warning sign, and warning signs can stay lit for a long time.
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A flat volatility curve says the market has stopped relaxing
The VIX curve usually slopes upward: calm now, more uncertainty later. When it flattens, near-term worry has caught up with the long-run kind.
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VIXYSPY