While the SPX was ripping higher, there was some sneaky activity going on at CBOE in the past couple weeks. I’m just speculating here & I could be totally wrong but why do I get a sneaky feeling that SPX is getting propped up only to get indirectly shorted via leveraged VIX which is trading at shockingly low levels of 12-13 ! Volume has died off on SPX with many funds in cash waiting for all of this to be over. Makes it almost very easy to artificially prop the SPX up. Food for thought.
Here are some interesting snapshots of numbers while many were led to celebrate a strong day in the market.
VIX trades for today.
Big June OTM Call buyers across the board today. Biggest buyer bought 10K June $18 C at $0.64. Tons of buyer flocking to pay up the premium. Talks about the confidence levels in this market. Even May with only 10 days left with expiration has some interesting vix buyers & put sellers betting on a spike.
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SPX had a similar tone. P/C ratio of 1.6. As mentioned on twitter yesterday, many Put buyers have been loading up on SPY puts this week.
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