Volatility Warnings Signal Virus May Bring Another Rough August

Bloomberg2021-08-02

Tallbacken sees cause for concern in VIX making higher lows RBC suggests Amazon put options as delta-variant hedge Concerns about the delta variant of Covid-19 look to be seeping into volatility ...

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Comments

DenisL
2021-08-03
DenisL
Get the vaccine so that the rest of us can get on with lives
cwpang
2021-08-03
cwpang
Great ariticle, would you like to share it?
replaygoh
2021-08-03
replaygoh
Great..
Kencom
2021-08-03
Kencom
Investment is a patience game; similar to golfing. Need to analyse the environment & strike correctly. Not to following the unverified news & rush in without knowing you are in or out of the range.
- Kuxz2021:
  So riGht! [Great]
- cwpang:
  good
- Investorpw:
  Agree
andrew123
2021-08-03
andrew123
Mkt gone up much 2 fast n much 2 long. Ant time -ve news mkt will be reason 4 correction.
- seojun:
  yessss
- Damien Khoo:
  It is important to stay prudent
fysx49
2021-08-03
fysx49
Vaccination is key , hope virus mutation not as fast

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It’s one of two “yellow warning lights” he sees, with the second being the way high-yield spreads have become “stickier” at higher levels.\n“August has a history of volatility spikes, more so than one might think,” Purves wrote in a note dated on Sunday. “This rising tension is subtle, and we suggest it has more to do with Covid persistence than with earnings reports, which on the whole have been remarkably strong so far.”\n\nIt isn’t just the VIX that’s flashing concern. S&P 500 skew, which measures the cost of bearish options versus bullish ones, is at its highest level since the beginning of the pandemic a year and a half ago -- even as the S&P 500 soars to records. While the VIX/S&P 500 inverse correlation remains relatively stable, and the VIX itself closed last week below historical averages, there’s still plenty of nervousness about. Investors may need to be wary for the sort of oddball “stocks-up, vol-up” scenario that manifested in the lead-up to February 2018’s Volmageddon, or last August’s retail-investor-driven tech rally.\nAugust and September are the worst months by average S&P 500 performance over the previous 30 years, Susquehanna derivatives strategists pointed out in a recent note.\nOther volatility signals have also been showing higher lows in the past few weeks, including the ICE BofA MOVE Index, which measures Treasury-option swings, and the JPMorgan Global FX Volatility Index.\n“There is worry but we are nowhere near peak worry,” said RBC’s Amy Wu Silverman. She pointed to bearish put options on the SPDR S&P Retail ETF (ticker XRT) looking expensive versus those on other ETFs, and suggested that’s “due to the delta variant and back-to-school sensitivity.”\nNeither Silverman nor Purves sees hedging the S&P 500 as the way to go right now, though, because it’s relatively expensive to do so. Silverman suggests selling Amazon.com Inc. October $3,100 puts as a hedge against further surges in the delta-variant. Purves recommends buying puts for the likes of airline and cruise-ship stocks in case there’s a spike in Covid cases.","kind":"news","is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":804574141,"gmtCreate":1627968595783,"gmtModify":1703498818071,"author":{"id":"4088158505984320","authorId":"4088158505984320","name":"DenisL","avatar":"https://static.tigerbbs.com/0d13e043c2c38e5d7bfd53d016d5c6bf","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4088158505984320","authorIdStr":"4088158505984320"},"htmlText":"Get the vaccine so that the rest of us can get on with lives&nbsp;","listText":"Get the vaccine so that the rest of us can get on with lives&nbsp;","text":"Get the vaccine so that the rest of us can get on with lives","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804574141","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":804112774,"gmtCreate":1627945292598,"gmtModify":1703498160258,"author":{"id":"3582798820805021","authorId":"3582798820805021","name":"cwpang","avatar":"https://static.tigerbbs.com/5f1b9d2d614caf4bb2f4d62f3c9e7f7d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3582798820805021","authorIdStr":"3582798820805021"},"htmlText":"Great ariticle, would you like to share it?","listText":"Great ariticle, would you like to share it?","text":"Great ariticle, would you like to share it?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804112774","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":804110838,"gmtCreate":1627944855424,"gmtModify":1703498150261,"author":{"id":"3582963095283492","authorId":"3582963095283492","name":"replaygoh","avatar":"https://static.tigerbbs.com/d47b21291424a3d55039334a8de5cdb9","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3582963095283492","authorIdStr":"3582963095283492"},"htmlText":"Great..&nbsp;","listText":"Great..&nbsp;","text":"Great..","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804110838","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":804137000,"gmtCreate":1627944746600,"gmtModify":1703498148437,"author":{"id":"4088748055325860","authorId":"4088748055325860","name":"Kencom","avatar":"https://community-static.tradeup.com/news/bcaa9548fb78e0409a2827c590935dab","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"4088748055325860","authorIdStr":"4088748055325860"},"htmlText":"Investment is a patience game; similar to golfing. Need to analyse the environment &amp; strike correctly. Not to following the unverified news &amp; rush in without knowing you are in or out of the range.&nbsp;","listText":"Investment is a patience game; similar to golfing. Need to analyse the environment &amp; strike correctly. Not to following the unverified news &amp; rush in without knowing you are in or out of the range.&nbsp;","text":"Investment is a patience game; similar to golfing. Need to analyse the environment & strike correctly. Not to following the unverified news & rush in without knowing you are in or out of the range.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/804137000","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5406932,"gmtCreate":1627944955527,"gmtModify":1663231841444,"authorId":3579089526246226,"author":{"id":3579089526246226,"idStr":"3579089526246226","authorId":3579089526246226,"name":"Kuxz2021","avatar":"https://static.tigerbbs.com/08d4c40e1cadc13a35bee15bdaadd052","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":804137000,"type":1,"supId":0,"prevId":0,"content":"So riGht! [Great]","text":"So riGht! [Great]","html":"So riGht! [Great]"},{"id":5407002,"gmtCreate":1627945314685,"gmtModify":1663231841138,"authorId":3582798820805021,"author":{"id":3582798820805021,"idStr":"3582798820805021","authorId":3582798820805021,"name":"cwpang","avatar":"https://static.tigerbbs.com/5f1b9d2d614caf4bb2f4d62f3c9e7f7d","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":804137000,"type":1,"supId":5406932,"prevId":0,"content":"good","text":"good","html":"good"},{"id":5406926,"gmtCreate":1627944918749,"gmtModify":1663231839566,"authorId":3564887540980880,"author":{"id":3564887540980880,"idStr":"3564887540980880","authorId":3564887540980880,"name":"Investorpw","avatar":"https://static.tigerbbs.com/d1dd948dbb16b3bc2aece70dc8351fa9","vip":1,"crmLevel":4,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":804137000,"type":1,"supId":0,"prevId":0,"content":"Agree","text":"Agree","html":"Agree"}],"langContent":"EN"},{"id":804194922,"gmtCreate":1627944075766,"gmtModify":1703498131702,"author":{"id":"3576260758860416","authorId":"3576260758860416","name":"andrew123","avatar":"https://community-static.tradeup.com/news/f2a1eaba26272212d42018e60e78b422","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":5,"crmLevelSwitch":0,"idStr":"3576260758860416","authorIdStr":"3576260758860416"},"htmlText":"Mkt gone up much 2 fast n much 2 long. Ant time -ve news mkt will be reason 4 correction.&nbsp;","listText":"Mkt gone up much 2 fast n much 2 long. Ant time -ve news mkt will be reason 4 correction.&nbsp;","text":"Mkt gone up much 2 fast n much 2 long. Ant time -ve news mkt will be reason 4 correction.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":7,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/804194922","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5406916,"gmtCreate":1627944854699,"gmtModify":1663231840540,"authorId":4087771643270940,"author":{"id":4087771643270940,"idStr":"4087771643270940","authorId":4087771643270940,"name":"seojun","avatar":"https://static.tigerbbs.com/3bd9ce06b0a58d0a81582641f6566970","vip":1,"crmLevel":5,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":804194922,"type":1,"supId":5406863,"prevId":0,"content":"yessss","text":"yessss","html":"yessss"},{"id":5406863,"gmtCreate":1627944559537,"gmtModify":1635161704936,"authorId":3576444918223783,"author":{"id":3576444918223783,"idStr":"3576444918223783","authorId":3576444918223783,"name":"Damien Khoo","avatar":"https://community-static.tradeup.com/news/f08d9f6bdc3c0038e9aa81591b4df363","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":804194922,"type":1,"supId":0,"prevId":0,"content":"It is important to stay prudent ","text":"It is important to stay prudent ","html":"It is important to stay prudent "}],"langContent":"EN"},{"id":804196078,"gmtCreate":1627943937994,"gmtModify":1703498127080,"author":{"id":"3577580458147788","authorId":"3577580458147788","name":"fysx49","avatar":"https://static.tigerbbs.com/fe5937c0ada861e9603ef8a12ae3e445","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3577580458147788","authorIdStr":"3577580458147788"},"htmlText":"Vaccination is key , hope virus mutation not as fast","listText":"Vaccination is key , hope virus mutation not as fast","text":"Vaccination is key , hope virus mutation not as fast","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/804196078","repostId":1191539307,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":556,"commentSize":65,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1191539307"}