SPDR S&P 500 ETF Trust (PSE:SPY)

Source: Benzinga

Despite an extremely volatile, difficult and unpredictable 2020, the S&P 500 has managed to gain significant ground to new all-time highs in 2020. Investors who bought the dip during the sell-off early in the year have been rewarded with a fast market recovery. Buying the dip was also a great move during the 2008 Great Recession, when the S&P 500 lost roughly 50% of its value, ultimately bottoming at 666.79 on March 9, 2009. Since the bottom, the SPDR S&P 500 ETF Trust (NYSE: SPY ) has generated a total return of 553% over the last 11-plus years. Related Link: Here’s How Much Investing $1,000 In The 5 Biggest Dot-Com Bubble Tech Stocks Would Be Worth Today One market laggard since the financial crisis has been Citigroup Inc (NYSE: C ). Citigroup’s Eventful Decade: All … Full story available on Benzinga.com

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Source: Zero Hedge

“Things Could Get Messy” – Nomura Warns Bulls “Cannot Overstate Gamma Impact” From Tomorrow’s Op-Ex Tyler Durden Thu, 10/15/2020 – [10:35] A double-whammy of ‘soft’ Mnuchin confirmation that a fiscal “deal” pre-election is unlikely and the reacceleration of COVID-19 restrictions and closures across Europe, sparked a significant ‘risk-off’ move overnight with Nasdaq almost erasing all its gains for the week… But, as Nomura’s Charlie McElligott details, with stocks are the forefront of cross-asset risk sentiment, the talking-point on the desk is simple: you cannot overstate the Gamma impact on the overall market of those single-name mega-cap Tech options expiring tomorrow The reason, simple again – the options market tail wagging the broad US equity market dog as McElligott points out that the “negative Gamma” in these monster positions (from the calls which the Dealer is short this expiration in AMZN, ADBE and NFLX as largest standouts) has them chasing the market to remain Delta hedged, accelerating the swings in both directions this wk.

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Source: Benzinga

The trading action in the SPDR S&P 500 ETF Trust (NYSE: SPY ) since the March lows has been surprising to many investors. But upon closer examination, the 2020 rally has mirrored the 2009 recovery from the financial crisis to an eerie degree. Throughout the year, DataTrek Research co-founder Nicholas Colas has been tracking the 2020 S&P 500 trading action and comparing it to the stages of the 2008 sell-off and the 2009 market recovery from the financial crisis. The S&P 500 is now 143 days removed from its March 2020 lows and is up 57% from its bottom. Exactly 143 days after the S&P 500 bottomed in 2009, the index was up 56.8% from its lows. Related Link: … Full story available on Benzinga.com

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Source: ETF Stream

Physically-replicated ETF has $904m assets under management (AUM)

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Source: Zero Hedge

Nomura Warns, Gamma-Squeeze “Extreme Grab” Could Flip To “Extreme Vomit” By Friday Tyler Durden Tue, 10/13/2020 – [09:45] Nasdaq was on a charge again overnight, incessantly bid from the open in Europe, after yesterday’s three-legged meltup – the biggest day in six months – on the heels of what appeared to be the re-emergence of ‘Nasdaq Whale’, which Softbank vehemently denied was them last night (thou doth protest too much?) … As we detailed yesterday, the combination of extreme short speculative futures positioning and the ‘Gamma-Squeeze’ is driving Nasdaq – and thus the mega-tech names – virtuously higher… No change to Nasdaq short this week pic.twitter.com/9C1YNcs3Rn — zerohedge (@zerohedge) October 9, 2020 …the same “gamma squeeze” dynamic we observed in mid/late August when Masa Son’s SoftBank ended up buying billions in call spreads, sparking a meltup in tech names is back and just like in August, liquidity is dismal which likely means that SoftBank is back for round three (after a failed attempt to squeeze the Nasdaq higher two weeks ago).

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Source: Investing.com

Stocks Analysis by Investing.com (Haris Anwar/Investing.com) covering: S&P 500, Chevron Corp, SPDR S&P 500, Exxon Mobil Corp. Read Investing.com (Haris Anwar/Investing.com)’s latest article on Investing.com

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Source: Benzinga

The stubborn elevated implied volatility across the major indices finally fell a bit at the end of last week with the VIX dropping from 29 to 25. That means slightly narrower expected moves into earnings season. Earnings kicks off tomorrow morning with Citi, JP Morgan and Johnson & Johnson. Most stocks will enter their announcements not only pricing their own news but also broader market uncertainty, but some of that uncertainty got re-priced last week as the election results and stimulus negotiations became somewhat clearer. VIX futures still show election week as the highest demand for options premium. Here’s how this week looks through the lens of the options market. Expected Moves via Options AI Last week’s expected move in SPY: 2.2% Last week’s actual move SPY: +3.8% This week’s expected move in SPY: 1.6%: Earnings of Note Banks/Financial earnings take center stage this week. Here’s a 7 day expected move comparison, … Full story available on Benzinga.com

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Source: Benzinga

U.S. coronavirus cases are climbing in New York and parts of the Midwest, there is no sign a comprehensive stimulus package is coming anytime soon and U.S. economic data has started to plateau after a strong initial rebound. Despite these negative headlines, the SPDR S&P 500 ETF Trust (NYSE: SPY ) continues to rally, leaving some investors to wonder why the market is seemingly ignoring the news cycle. On Thursday, Sevens Report Research’s Tom Essaye said the market isn’t ignoring the headlines. It’s simply assuming everything will work out for the best in the coming months. Related Link: Fed Chair Powell On Economic Recovery: ‘Still A … Full story available on Benzinga.com

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Source: Benzinga

Federal Reserve Chairman Jerome Powell spoke to the National Association for Business Economics on Tuesday and said that the U.S. economy is far from out of the woods from its pandemic slowdown. The SPDR S&P 500 ETF Trust (NYSE: SPY ) traded lower in early afternoon trading as investors weigh the potential risks to the economic recovery and the potential benefits of more government stimulus. ‘Long Way To Go’ : In his speech , Powell said he sees more risk to underaction by the Fed than overaction. “The risks of overdoing it seem, for now, to be smaller,” Powell said. “Even if … Full story available on Benzinga.com

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Source: Wealth Management

With the HYG/LQD ratio falling, hedging against a drop in SPY can be done for little or no cost.

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