11-NOVEMBER 19-2021

Business RisksGood morning.
Today marks the expiration of over 95.5 million options contracts.  They’re related to everything from individual stocks, to ETFs, to market indices.  That total is just slightly below the 95.6 million options that expired in July.
With this many options expiring, and with traders looking to shift positions, there have been some unusual intraday moves in a number of assets over the past week, a trend likely to continue today.  Wall Street has dubbed the concept “gamma unclenching,” named after an option gamma, which measures the rate of change to an options delta.  Before you can say “It’s all Greek to me,” the worst of it will likely be over, at least for this month.

Now here’s the rest of the news:

The Inflation-Fighting step Biden Has Yet to Take –John Harwood, CNN
President Biden has tried multiple responses to spiking inflation: investigating gas prices, smoothing supply chains, touting benefit programs.  Why not this? [Read Here]

Joe Biden’s Empty Inflation Toolbox –Jeff Greenfield, Politico
Inflation has a unique power to kneecap a presidency.  Presidents and their parties don’t do well at all when inflation (and attempts to cure it) are on voters’ minds… [Read Here]

November 19, 2020

Geometry homeworkGood morning.
Pfizer reported that its Covid-19 vaccine had a 95 percent efficacy rating.  That topped the 94.5 percent reported by Moderna last week.  The race is on to see who can hit 96% first!
While that news is certainly great overall, it will still take time to mass produce and distribute the drug.  Healthcare workers on the front line may see the first batches in the next month.  In any event, it’s clear that the market isn’t quite ready to head materially higher until the vaccine can be distributed.  That’ something we’ve warned about before — but that warning also carries an opportunity for trading both up and down.

Now here’s the rest of the news:

 

November 19, 2019

Not only is this the season for shopping, buying various articles, there are two sides to everything…
DarrenDaily’s message today … “The Framework for Selling Success

Are you enjoying the season?  [Please don’t over-do-it.]  😉

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Come From Aways, Do You?

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