Goldman Derivs Desk: Why Last Week's Rotational Pain Won't Turn Into A Full-Blown Wipeout

Zero Hedge07-21

Amidst this week's brutal rotational pain (discussed here, here and here), index vols caught a significant bid this week, unsurprisingly most notably in RTY and NDX. And, as Goldman's derivative sales...

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And, as Goldman's derivative sales...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-derivs-desk-why-last-weeks-rotational-pain-wont-turn-full-blown-wipeout\">Source Link</a>\n\n</div>\n","source":"zerohedge_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Goldman Derivs Desk: Why Last Week's Rotational Pain Won't Turn Into A Full-Blown Wipeout</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGoldman Derivs Desk: Why Last Week's Rotational Pain Won't Turn Into A Full-Blown Wipeout\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-07-21 23:15 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/goldman-derivs-desk-why-last-weeks-rotational-pain-wont-turn-full-blown-wipeout><strong>Zero Hedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amidst this week's brutal rotational pain (discussed here, here and here), index vols caught a significant bid this week, unsurprisingly most notably in RTY and NDX. And, as Goldman's derivative sales...</p>\n\n<a href=\"https://www.zerohedge.com/markets/goldman-derivs-desk-why-last-weeks-rotational-pain-wont-turn-full-blown-wipeout\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1668664300.SGD","symbol_name":"Blackrock World Financials A2 SGD-H","start_time":0,"source_url":"https://www.zerohedge.com/markets/goldman-derivs-desk-why-last-weeks-rotational-pain-wont-turn-full-blown-wipeout","article_id":"2453209337","we_media_id":null,"thumbnails":["https://static.tigerbbs.com//images/icons/premium-content.svg?op=imageView2&mode=2&width=256&height=256&quality=70&format=png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2453209337","pubTimestamp":1721574900,"sourceInfo":{"source_id":"zerohedge_highlight","name":"Zero Hedge"},"weMediaInfo":null,"summary":"Amidst this week's brutal rotational pain , index vols caught a significant bid this week, unsurprisingly most notably in RTY and NDX. 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At the same time, Russell call buying for right-tail hedges has subsided a bit given the significant pop in vols and view that we’re in later innings of this de-grossing episode and the easy money in Russell upside has already been made.More notably, after Friday's $2.7 trillion OpEx...","collect":0,"end_time":0,"defaultTopTitle":"zerohedge.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","BK4585":"ETF&股票定投概念","SVXY":"0.5倍做空波动率指数短期期货ETF","BK4533":"AQR资本管理(全球第二大对冲基金)","IE00B19Z3581.USD":"Legg Mason ClearBridge - Value A Acc USD","LU1791807156.HKD":"BGF WORLD FINANCIALS \"A2\" (HKDHDG) ACC","LU2237443382.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","TVIX":"二倍做多VIX波动率指数短期期权ETN","LU2237443549.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA SGD-H","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","VXX":"短期VIX期货ETN","LU2237443622.USD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc USD","BK4588":"碎股","IE00BFXG1179.USD":"BNY MELLON U.S. EQUITY INCOME \"B\" (USD) INC","LU2237443978.SGD":"Aberdeen Standard SICAV I - Global Dynamic Dividend A Acc SGD-H","BK4550":"红杉资本持仓","VIXY":"波动率短期期货指数ETF","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","BK4552":"Archegos爆仓风波概念","UVXY":"1.5倍做多恐慌指数短期期货ETF","LU0106831901.USD":"贝莱德世界金融基金A2","BK4504":"桥水持仓","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","BK4127":"投资银行业与经纪业","IE0034235188.USD":"PINEBRIDGE GLOBAL FOCUS EQUITY \"A\" (USD) ACC"},"translate_title":"高盛衍生品部门：为什么上周的轮换痛苦不会变成全面的失败","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VXX":0.65,"TVIX":0.65,"VIXY":0.6,"UVXY":0.6,"SVXY":0.6,"VIXmain":0.6},"content_text":"Amidst this week's brutal rotational pain (discussed here, here and here), index vols caught a significant bid this week, unsurprisingly most notably in RTY and NDX. And, as Goldman's derivative sales desk notes, VIX, S&P skew and variance have also gone bid across most of the surface, rebounding from relatively low levels coming into this period. Of note, S&P 1-month vols sit at ~13.5v, in line with recent realized (10-day = 13v).And speaking of Goldman's derivatives traders, in their latest weekly note, they write that flow wise, they are seeing more demand for protection over the last few days via VIX calls in Aug and Sep as well as SPX and QQQ downside across the curve. At the same time, Russell call buying for right-tail hedges has subsided a bit given the significant pop in vols and view that we’re in later innings of this de-grossing episode and the easy money in Russell upside has already been made.More notably, after Friday's $2.7 trillion OpEx...","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"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":"4.26.3","shortVersion":"4.26.3","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/2453209337"}