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2021-04-18

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2021-04-18

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2021-04-17

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$544 Billion In Options Expire Today: Here's What Will Move

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22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","collect":0,"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>$544 Billion In Options Expire Today: Here's What Will Move</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; 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}\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\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":220,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":379883138,"gmtCreate":1618715236924,"gmtModify":1704714257717,"author":{"id":"3581628434663051","authorId":"3581628434663051","name":"yellowscotsm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581628434663051","authorIdStr":"3581628434663051"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/379883138","repostId":"1162807718","repostType":4,"repost":{"id":"1162807718","weMediaInfo":{"introduction":"Stock Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1618572612,"share":"https://ttm.financial/m/news/1162807718?lang=&edition=fundamental","pubTime":"2021-04-16 19:30","market":"us","language":"en","title":"Musk, Palihapitiya Threw 'Jet Fuel' On GameStop Short Squeeze, David Einhorn Says","url":"https://stock-news.laohu8.com/highlight/detail?id=1162807718","media":"Benzinga","summary":"Hedge fund manager David Einhorn has blamed venture capitalist Chamath Palihapitiya and Tesla Inc. T","content":"<p>Hedge fund manager David Einhorn has blamed venture capitalist Chamath Palihapitiya and&nbsp;<b>Tesla Inc</b>.&nbsp;TSLA&nbsp;CEO Elon Musk for throwing \"jet fuel\" on the&nbsp;<b>GameStop Corp.</b>GME 0.14%&nbsp;trading frenzy in January this year, according to areportby Reuters.</p><p><b>What Happened</b>: Einhorn said he believes the GameStop short squeeze in January was fueled in large part by Palihapitiya and Musk, according to the report, which cited Einhorn’s comments in a quarterly letter to Greenlight Capital investors published Thursday.</p><p>The Greenlight Capital founder said Palihapitiya&nbsp;may have had an incentive to harm popular trading platform Robinhood as it competes with fintech startup SoFi, which was backed by Palihapitiya.</p><p>Further, Einhorn said that if regulators wanted Musk to stop manipulating stocks, “they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018.”</p><p>Einhorn also said U.S. lawmakers should probe regulators instead of investors if they are looking for answers to how day traders were able to wrest control of GameStop's share price from established hedge funds.</p><p><b>Why It Matters:</b>&nbsp;Shares of video game retailer GameStop and other heavily-shorted stocks such as<b>AMC Entertainment Holdings Inc.</b>AMC 0.05%skyrocketed in January amid a rally fuelled by retail traders belonging to the subreddit channel r/WallStreetBets bid up the stocks to create a short squeeze.</p><p>GameStop shares traded wildly in January in abattle between short sellers and retail traders. The wild price swings in the heavily-shorted stocks caused heavy losses for hedge fund Melvin Capital Management, among others.</p><p>Billionaire Chamath Palihapitiya joined the trading frenzy in late January byannouncinghe had bought call options in GameStop with a strike price of $115. Musk laterwaded into the GameStop dramaby tweeting “Gamestonk!!” with a link to WallStreetBets. Highly followed investors like Musk, who has 43 million followers on Twitter, have caused large movements in stocks.</p><p>In response to the short squeeze drama, the U.S. House of Representatives held aspecial hearingin February, in which the CEOs of Reddit, Robinhood, Melvin Capital and hedge fund Citadel Securities testified about the circumstances surrounding the GameStop short squeeze and the factors driving Robinhood’s decision to restrict GameStop buying.</p><p><b>Price Action:</b>&nbsp;GameStop shares closed almost 6.1% lower on Thursday at $156.44, while Tesla shares closed 0.9% higher at $738.85.</p>","collect":0,"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>Musk, Palihapitiya Threw 'Jet Fuel' On GameStop Short Squeeze, David Einhorn Says</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\">\nMusk, Palihapitiya Threw 'Jet Fuel' On GameStop Short Squeeze, David Einhorn Says\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time\">2021-04-16 19:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<p>Hedge fund manager David Einhorn has blamed venture capitalist Chamath Palihapitiya and&nbsp;<b>Tesla Inc</b>.&nbsp;TSLA&nbsp;CEO Elon Musk for throwing \"jet fuel\" on the&nbsp;<b>GameStop Corp.</b>GME 0.14%&nbsp;trading frenzy in January this year, according to areportby Reuters.</p><p><b>What Happened</b>: Einhorn said he believes the GameStop short squeeze in January was fueled in large part by Palihapitiya and Musk, according to the report, which cited Einhorn’s comments in a quarterly letter to Greenlight Capital investors published Thursday.</p><p>The Greenlight Capital founder said Palihapitiya&nbsp;may have had an incentive to harm popular trading platform Robinhood as it competes with fintech startup SoFi, which was backed by Palihapitiya.</p><p>Further, Einhorn said that if regulators wanted Musk to stop manipulating stocks, “they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018.”</p><p>Einhorn also said U.S. lawmakers should probe regulators instead of investors if they are looking for answers to how day traders were able to wrest control of GameStop's share price from established hedge funds.</p><p><b>Why It Matters:</b>&nbsp;Shares of video game retailer GameStop and other heavily-shorted stocks such as<b>AMC Entertainment Holdings Inc.</b>AMC 0.05%skyrocketed in January amid a rally fuelled by retail traders belonging to the subreddit channel r/WallStreetBets bid up the stocks to create a short squeeze.</p><p>GameStop shares traded wildly in January in abattle between short sellers and retail traders. The wild price swings in the heavily-shorted stocks caused heavy losses for hedge fund Melvin Capital Management, among others.</p><p>Billionaire Chamath Palihapitiya joined the trading frenzy in late January byannouncinghe had bought call options in GameStop with a strike price of $115. Musk laterwaded into the GameStop dramaby tweeting “Gamestonk!!” with a link to WallStreetBets. Highly followed investors like Musk, who has 43 million followers on Twitter, have caused large movements in stocks.</p><p>In response to the short squeeze drama, the U.S. House of Representatives held aspecial hearingin February, in which the CEOs of Reddit, Robinhood, Melvin Capital and hedge fund Citadel Securities testified about the circumstances surrounding the GameStop short squeeze and the factors driving Robinhood’s decision to restrict GameStop buying.</p><p><b>Price Action:</b>&nbsp;GameStop shares closed almost 6.1% lower on Thursday at $156.44, while Tesla shares closed 0.9% higher at $738.85.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉","GME":"游戏驿站"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1162807718","content_text":"Hedge fund manager David Einhorn has blamed venture capitalist Chamath Palihapitiya and Tesla Inc. TSLA CEO Elon Musk for throwing \"jet fuel\" on the GameStop Corp.GME 0.14% trading frenzy in January this year, according to areportby Reuters.What Happened: Einhorn said he believes the GameStop short squeeze in January was fueled in large part by Palihapitiya and Musk, according to the report, which cited Einhorn’s comments in a quarterly letter to Greenlight Capital investors published Thursday.The Greenlight Capital founder said Palihapitiya may have had an incentive to harm popular trading platform Robinhood as it competes with fintech startup SoFi, which was backed by Palihapitiya.Further, Einhorn said that if regulators wanted Musk to stop manipulating stocks, “they should have done so with more than a light slap on the wrist when they accused him of manipulating Tesla’s shares in 2018.”Einhorn also said U.S. lawmakers should probe regulators instead of investors if they are looking for answers to how day traders were able to wrest control of GameStop's share price from established hedge funds.Why It Matters: Shares of video game retailer GameStop and other heavily-shorted stocks such asAMC Entertainment Holdings Inc.AMC 0.05%skyrocketed in January amid a rally fuelled by retail traders belonging to the subreddit channel r/WallStreetBets bid up the stocks to create a short squeeze.GameStop shares traded wildly in January in abattle between short sellers and retail traders. The wild price swings in the heavily-shorted stocks caused heavy losses for hedge fund Melvin Capital Management, among others.Billionaire Chamath Palihapitiya joined the trading frenzy in late January byannouncinghe had bought call options in GameStop with a strike price of $115. Musk laterwaded into the GameStop dramaby tweeting “Gamestonk!!” with a link to WallStreetBets. Highly followed investors like Musk, who has 43 million followers on Twitter, have caused large movements in stocks.In response to the short squeeze drama, the U.S. House of Representatives held aspecial hearingin February, in which the CEOs of Reddit, Robinhood, Melvin Capital and hedge fund Citadel Securities testified about the circumstances surrounding the GameStop short squeeze and the factors driving Robinhood’s decision to restrict GameStop buying.Price Action: GameStop shares closed almost 6.1% lower on Thursday at $156.44, while Tesla shares closed 0.9% higher at $738.85.","news_type":1},"isVote":1,"tweetType":1,"viewCount":311,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":379883373,"gmtCreate":1618715220492,"gmtModify":1704714257232,"author":{"id":"3581628434663051","authorId":"3581628434663051","name":"yellowscotsm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581628434663051","authorIdStr":"3581628434663051"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/379883373","repostId":"2127664834","repostType":4,"repost":{"id":"2127664834","pubTimestamp":1618573860,"share":"https://ttm.financial/m/news/2127664834?lang=&edition=fundamental","pubTime":"2021-04-16 19:51","market":"us","language":"en","title":"4 Cathie Wood Stocks That Could Deliver Bigger Gains Than Tesla","url":"https://stock-news.laohu8.com/highlight/detail?id=2127664834","media":"Motley Fool","summary":"And they all have one key thing in common.","content":"<p>Everyone knows that ARK Invest CEO Cathie Wood is a huge fan of <b>Tesla</b> (NASDAQ:TSLA). Elon Musk's company ranks as the top position in Wood's flagship exchange-traded fund, <b><a href=\"https://laohu8.com/S/ARKK\">ARK Innovation ETF</a></b>. But Wood also likes several healthcare stocks. In this <i>Motley Fool Live</i> video <b>recorded on April 7</b>, Motley Fool contributors Keith Speights and Brian Orelli identify four healthcare stocks that are among Wood's top holdings that just might deliver bigger gains than Tesla.</p>\n<p><b>Keith Speights:</b> All right. Let's switch to a fun story, Brian. Now, you and I, we cover healthcare. We don't get to talk about stocks like Tesla very often, we just don't. We're going to talk about Tesla, kind of.</p>\n<p>Cathie Wood, famous investor, very well-known investor, highly followed investor. Her ARK Invest came out not long ago with a 2025 price target for Tesla that caused all kinds of controversy. It's way higher than Tesla's current price. They took a beating for predicting that Tesla's shares were going to really just skyrocket over the next few years.</p>\n<p>But Cathie Wood also likes quite a few healthcare stocks. I'm curious, Brian. Are there any of Cathie Wood's favorite healthcare stocks that you think could deliver bigger gains than Tesla will over the next five years?</p>\n<p><b>Brian Orelli:</b> Yeah. The only <a href=\"https://laohu8.com/S/AONE\">one</a> in the top holdings that I saw that I own is <b>Vertex Pharmaceuticals</b> (NASDAQ:VRTX). It's big and in cystic fibrosis. Growth has been slowing down as it will treat more patients with its different medications. It's up to maybe three to four medications depending on how you count the combinations.</p>\n<p>It needs to find its next growth driver. There's plenty of pipeline candidates both internally developed, as well as licensed products. Among the licensed products, <b>CRISPR Therapeutics</b> (NASDAQ:CRSP) has a deal with the company. They have a treatment for beta-thalassemia and sickle cell that's already in clinical trials and has shown early efficacy, and then they have some earlier programs in Duchenne's muscular dystrophy, a disease called DM1, and cystic fibrosis.</p>\n<p>On the rest of her list, I really like <b>Regeneron</b> (NASDAQ:REGN). It's <a href=\"https://laohu8.com/S/AONE.U\">one</a> that I've always wished I owned, but it always seemed a little expensive. But that's the way good companies go sometimes and so sometimes, you just have to bite the bullet and buy it and I never did.</p>\n<p>If you're going to buy a large biotech company, you want to go for one with a lot of shots on goal and Regeneron has maybe almost the most shots on goal. It's really done well. I can't even think of Regeneron drug that has actually failed. I think maybe that's one of the reasons why it's doing well, even though it's had a really high price. Valuation is just because it's had so few failures, it's done really well at developing antibodies and being successful at that.</p>\n<p><b>Anything on the list that you saw?</b></p>\n<p><b>Speights:</b> Yeah. First, I would agree with you on both Vertex and Regeneron. The tickers there by the way are VRTX for Vertex and REGN for Regeneron. Yeah. When you're looking at big biotechs, those two are my favorites.</p>\n<p>Like you Brian, I own Vertex. I don't own Regeneron, but also like you, I wish I had bought it several years ago. Those are great picks that I do think both of those depending on how their pipeline candidates play out over the next few years, both of those stocks could potentially beat Tesla.</p>\n<p>I also like and own <b>Teladoc Health</b> (NYSE:TDOC). Ticker there is TDOC. That's another Cathie Wood favorite that she is very bullish on. I think Teladoc Health has been beaten down quite a bit over the last couple of months, but I think it's a stock that could very easily outperform Tesla over the next five years as virtual care really gains momentum.</p>\n<p>I will throw in a much riskier stock that I don't own, but just I've started doing a little research into. It's a stock called <b>Twist Bioscience</b> (NASDAQ:TWST). The ticker there is TWST. What Twist does is it makes synthetic DNA. The company offers next-generation sequencing products. It develops antibodies for biopharma companies, it's working on storing data and DNA.</p>\n<p>The market cap right now is only around $6 billion. They generated revenue of $90 million last year. It's priced at a premium, but investors are expecting great things from Twist Bioscience. Again, it's one of Cathie Wood's favorite biotech stocks and it's one that, like I said, is really risky, but it could pay off over the long run. It's one that I'm keeping my eye on.</p>\n<p><b>Orelli:</b> Twist just came on to my watchlist like in the last week.</p>\n<p><b>Speights:</b> Yeah.</p>\n<p><b>Orelli:</b> Because it was spurred on by this podcast. Luke Timmerman does a podcast called <i>The Long Run</i>, and the CEO, Emily Leproust was on the podcast. I'll put that link to that podcast in the chat. If anybody wants to get more information on Twist and what they're doing, I think that was a really interesting podcast.</p>\n<p><b>Speights:</b> Maybe sometime in the not-too-distant future, Brian, you and I can go a little deeper, dive into Twist Bioscience just to give our viewers more information about this biotech that's on both of our watchlists right now.</p>\n<p><b>Orelli:</b> Yeah, that sounds good.</p>","source":"fool_stock","collect":0,"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>4 Cathie Wood Stocks That Could Deliver Bigger Gains Than Tesla</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\">\n4 Cathie Wood Stocks That Could Deliver Bigger Gains Than Tesla\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 19:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2021/04/16/4-cathie-wood-stocks-that-could-deliver-bigger-gai/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Everyone knows that ARK Invest CEO Cathie Wood is a huge fan of Tesla (NASDAQ:TSLA). Elon Musk's company ranks as the top position in Wood's flagship exchange-traded fund, ARK Innovation ETF. But Wood...</p>\n\n<a href=\"https://www.fool.com/investing/2021/04/16/4-cathie-wood-stocks-that-could-deliver-bigger-gai/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://www.fool.com/investing/2021/04/16/4-cathie-wood-stocks-that-could-deliver-bigger-gai/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2127664834","content_text":"Everyone knows that ARK Invest CEO Cathie Wood is a huge fan of Tesla (NASDAQ:TSLA). Elon Musk's company ranks as the top position in Wood's flagship exchange-traded fund, ARK Innovation ETF. But Wood also likes several healthcare stocks. In this Motley Fool Live video recorded on April 7, Motley Fool contributors Keith Speights and Brian Orelli identify four healthcare stocks that are among Wood's top holdings that just might deliver bigger gains than Tesla.\nKeith Speights: All right. Let's switch to a fun story, Brian. Now, you and I, we cover healthcare. We don't get to talk about stocks like Tesla very often, we just don't. We're going to talk about Tesla, kind of.\nCathie Wood, famous investor, very well-known investor, highly followed investor. Her ARK Invest came out not long ago with a 2025 price target for Tesla that caused all kinds of controversy. It's way higher than Tesla's current price. They took a beating for predicting that Tesla's shares were going to really just skyrocket over the next few years.\nBut Cathie Wood also likes quite a few healthcare stocks. I'm curious, Brian. Are there any of Cathie Wood's favorite healthcare stocks that you think could deliver bigger gains than Tesla will over the next five years?\nBrian Orelli: Yeah. The only one in the top holdings that I saw that I own is Vertex Pharmaceuticals (NASDAQ:VRTX). It's big and in cystic fibrosis. Growth has been slowing down as it will treat more patients with its different medications. It's up to maybe three to four medications depending on how you count the combinations.\nIt needs to find its next growth driver. There's plenty of pipeline candidates both internally developed, as well as licensed products. Among the licensed products, CRISPR Therapeutics (NASDAQ:CRSP) has a deal with the company. They have a treatment for beta-thalassemia and sickle cell that's already in clinical trials and has shown early efficacy, and then they have some earlier programs in Duchenne's muscular dystrophy, a disease called DM1, and cystic fibrosis.\nOn the rest of her list, I really like Regeneron (NASDAQ:REGN). It's one that I've always wished I owned, but it always seemed a little expensive. But that's the way good companies go sometimes and so sometimes, you just have to bite the bullet and buy it and I never did.\nIf you're going to buy a large biotech company, you want to go for one with a lot of shots on goal and Regeneron has maybe almost the most shots on goal. It's really done well. I can't even think of Regeneron drug that has actually failed. I think maybe that's one of the reasons why it's doing well, even though it's had a really high price. Valuation is just because it's had so few failures, it's done really well at developing antibodies and being successful at that.\nAnything on the list that you saw?\nSpeights: Yeah. First, I would agree with you on both Vertex and Regeneron. The tickers there by the way are VRTX for Vertex and REGN for Regeneron. Yeah. When you're looking at big biotechs, those two are my favorites.\nLike you Brian, I own Vertex. I don't own Regeneron, but also like you, I wish I had bought it several years ago. Those are great picks that I do think both of those depending on how their pipeline candidates play out over the next few years, both of those stocks could potentially beat Tesla.\nI also like and own Teladoc Health (NYSE:TDOC). Ticker there is TDOC. That's another Cathie Wood favorite that she is very bullish on. I think Teladoc Health has been beaten down quite a bit over the last couple of months, but I think it's a stock that could very easily outperform Tesla over the next five years as virtual care really gains momentum.\nI will throw in a much riskier stock that I don't own, but just I've started doing a little research into. It's a stock called Twist Bioscience (NASDAQ:TWST). The ticker there is TWST. What Twist does is it makes synthetic DNA. The company offers next-generation sequencing products. It develops antibodies for biopharma companies, it's working on storing data and DNA.\nThe market cap right now is only around $6 billion. They generated revenue of $90 million last year. It's priced at a premium, but investors are expecting great things from Twist Bioscience. Again, it's one of Cathie Wood's favorite biotech stocks and it's one that, like I said, is really risky, but it could pay off over the long run. It's one that I'm keeping my eye on.\nOrelli: Twist just came on to my watchlist like in the last week.\nSpeights: Yeah.\nOrelli: Because it was spurred on by this podcast. Luke Timmerman does a podcast called The Long Run, and the CEO, Emily Leproust was on the podcast. I'll put that link to that podcast in the chat. If anybody wants to get more information on Twist and what they're doing, I think that was a really interesting podcast.\nSpeights: Maybe sometime in the not-too-distant future, Brian, you and I can go a little deeper, dive into Twist Bioscience just to give our viewers more information about this biotech that's on both of our watchlists right now.\nOrelli: Yeah, that sounds good.","news_type":1},"isVote":1,"tweetType":1,"viewCount":309,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370765591,"gmtCreate":1618628840113,"gmtModify":1704713599942,"author":{"id":"3581628434663051","authorId":"3581628434663051","name":"yellowscotsm","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3581628434663051","authorIdStr":"3581628434663051"},"themes":[],"htmlText":"wow","listText":"wow","text":"wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/370765591","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","pubTimestamp":1618582708,"share":"https://ttm.financial/m/news/1175692875?lang=&edition=fundamental","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move","url":"https://stock-news.laohu8.com/highlight/detail?id=1175692875","media":"zerohedge","summary":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire","content":"<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.</p><p><b>In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.</b>As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.</p><p>How to trade this?</p><p>As Goldman's Vishal Vivek writes, at major expirations, options traders track situations where<b>a large amount of open interest is set to expire.</b>In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.</p><p>What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.</p><p>So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"<i>expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"</i></p><p><img src=\"https://static.tigerbbs.com/0dac61cb87c2f2700d8a0e8e64324f81\" tg-width=\"500\" tg-height=\"638\" referrerpolicy=\"no-referrer\">Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"</p><p>According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).<b>These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX&nbsp; (i.e. implied volatility) reversed.</b></p><p><img src=\"https://static.tigerbbs.com/ae7a60d873792b825bdda669cafa0ed3\" tg-width=\"500\" tg-height=\"297\" referrerpolicy=\"no-referrer\">And one other curious observation from SpotGamma:</p><blockquote>When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. <b>We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.</b></blockquote><p>With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.&nbsp; Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.&nbsp; Additionally, gamma is higher when IV is lower so gamma flips may have more juice.</p>","collect":0,"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>$544 Billion In Options Expire Today: Here's What Will Move</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; 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}\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\">\n$544 Billion In Options Expire Today: Here's What Will Move\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-16 22:18 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29><strong>zerohedge</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying ...</p>\n\n<a href=\"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index",".DJI":"道琼斯",".IXIC":"NASDAQ Composite","SPY":"标普500ETF"},"source_url":"https://www.zerohedge.com/markets/544-billion-options-expire-today-heres-what-will-move?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1175692875","content_text":"While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire, may of which will be worthless, and others will be providing a supporting \"pin\" to underlying prices. It's why, even though we are enjoying a beautiful spring week, Goldman notes that single stock options trading activity is elevated relative to historical levels. To wit, daily options volumes are up 70% in April, up from YTD lows of $2.4bn on 30-Mar.In total, across single stocks, $544BN of options are set to expiry today, including $305BN calls.As such, today’s expiry could be important for stocks with large open interest in at-the-money(ATM) options, as market makers delta-hedging their unusually large options portfolios will be active. This flow is likely to dampen volatility in some names while exacerbating stock price moves in others.How to trade this?As Goldman's Vishal Vivek writes, at major expirations, options traders track situations wherea large amount of open interest is set to expire.In situations where there is a significant amount of expiring open interest in at-the-money strikes (strike prices at or very near the current stockprice), delta-hedging activity can impact the underlying stock’s trading that day. If market makers or other options traders who delta-hedge their positions are net long ATM options, expiration-related flow could have the effect of dampening stock price movements, causing the stock price to settle near the strike with large open interest. This situation is often referred to as a “pin” and can be an ideal situation fora large investor trying to enter/exit a stock position. Alternatively, if delta-hedgers are net short ATM options (have a “negative gamma” position), their hedging activity could exacerbate stock price moves.What that means it expiration-related trades may cause trading activity to aggressively pick up for stocks with a significant amount of ATM open interest.So to help traders looking to hop on for daytrading opportunities, here is a table identifying possible focus stocks with large ATM open interest expiring today, which is compared to the average daily volume of the underlying stocks. As Goldman puts it, \"expiration-related activity is likely to have more of an impact if the open interest represents a significant percentage of the stock’s volume.\"Finally, for what it's worth, this morning our friends at SpotGamma write that this has been a rather strange OPEX cycle, \"with a consistent almost mechanical bid pushing markets higher. We’ve not seen the Call Wall “breached” this many times before, but there are other aberrations that we’ve mentioned in previous notes – like net put sales. We’ve got some theories on this we are posting in a longer form piece.\"According to SG, because implied volatility has now compressed (ie VIX at new lows) there is now more potential for “long term” volatility. Recall how as of late any sharp, violent drop in markets was bought so quickly (see chart below).These bursts lower coincided with record VIX spikes, but a reflective snap-back bid would bring a market recovery of equal force as the VIX  (i.e. implied volatility) reversed.And one other curious observation from SpotGamma:When implied volatility is very high, its very sensitive to market moves and also signaling that markets are expecting more large moves ahead. As soon as markets would pause or catch a support level, that implied volatility would quickly reverse lower. We often think of this analogy that if a shark stops swimming, it sinks ( partially true!). If the market stops dropping then Implied volatility sinks.With this, as we often talk about, lower implied volatility (ie lower VIX) signals market makers have to buy back short hedges which fuels rallies. SG's conclusion: this current level of lower implied volatility now gives the market more downside firepower.  Starting with a lower implied volatility “slows down” that responsive “snap-back” buying mechanism.  Additionally, gamma is higher when IV is lower so gamma flips may have more juice.","news_type":1},"isVote":1,"tweetType":1,"viewCount":220,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}