mish, but these numbers also indicate a potential for another delta hedging frolicking period, do they not?
Zeev
Yes - either way in fact.
The financials will be the key as to where this market goes.
I doubt a big rally if Financials head down even modestly.
If Financials fly in the face of this bond market, however, I will be surprised, but it will not be the first time.
If QQQ 31 gets taken out with force, delta hedging short will be massive. So far this year, they have stopped every one of these in its tracks.
A modest decline seems most likely based on OI.
Then we have to see the October OI.
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