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2021-07-19

$Coinbase Global, Inc.(COIN)$??

2022-01-27

EksnkaDbjemw

2021-12-26

B

@Jasbump:$Alibaba(BABA)$ufigi

2021-05-13

$Coinbase Global, Inc.(COIN)$Earnings report - ???? What’s your view?

2021-05-01

Interesting!

Sorry, the original content has been removed

2022-10-18

😬

One Trading Strategy Is Winning Big in This Nasty Year for Stocks

2021-05-28

$Pinterest, Inc.(PINS)$Finally close to breaking even

2021-07-14

$Tencent Music(TME)$???

2021-07-18

$Coinbase Global, Inc.(COIN)$Hope good earnings

2021-07-13

$Alibaba(BABA)$...

2021-07-02

$Coinbase Global, Inc.(COIN)$?

2021-06-09

$Alibaba(BABA)$Gogogo

2021-05-27

$Coinbase Global, Inc.(COIN)$Any chance to turn green in the next 1 month?

2021-07-06

$SoFi Technologies Inc.(SOFI)$????

2021-06-29

$Coinbase Global, Inc.(COIN)$Slowly but surely

2021-06-24

$JinkoSolar(JKS)$Hold or sell before earnings?

2021-05-14

$Coinbase Global, Inc.(COIN)$Worst after Eearnings? [Cry] [Cry] [Cry]

2021-07-01

$SoFi Technologies Inc.(SOFI)$???

2021-06-25

$JinkoSolar(JKS)$???

2021-06-03

$Coinbase Global, Inc.(COIN)$Damn when will I break even

Go to Tiger App to see more news

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help refurbished Jadeja dheikwa dhejkwkw adhesions shwkwjwnw&nbsp;","listText":"Dbhewjnw help refurbished Jadeja dheikwa dhejkwkw adhesions shwkwjwnw&nbsp;","text":"Dbhewjnw help refurbished Jadeja dheikwa dhejkwkw adhesions shwkwjwnw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/238934651420808","isVote":1,"tweetType":1,"viewCount":53,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9967948542,"gmtCreate":1670254370486,"gmtModify":1676538330520,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"V","listText":"V","text":"V","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9967948542","repostId":"9967958247","repostType":1,"repost":{"id":9967958247,"gmtCreate":1670253024490,"gmtModify":1676538330197,"author":{"id":"3575175630342613","authorId":"3575175630342613","name":"Jasmine1205","avatar":"https://static.tigerbbs.com/4d0aaff576d8e7d6bd8a01ed04dc6434","crmLevel":3,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/TSM\">$Taiwan Semiconductor Manufacturing(TSM)$&nbsp;</a><v-v data-views=\"1\"></v-v>Apple (NASDAQ: AAPL) and Nvidia (NASDAQ: NVDA) are slated to be Taiwan Semiconductor's (NYSE: TSM) two of the initial customers at the company's Arizona plant when it fully opens, Nikkei Asia reported. 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The company&#39;s fourth-quarter earnings release on Nov. 8 was a bit of a mixed bag, as its parks revenue soared, but its media segment took some concerning hits.</p><p>In 2023, the company will be heading into its second century of business and a potential recession. While Disney&#39;s short-term prospects may be uncertain, the company has proven the staying power of its content and is home to some of the world&#39;s most in-demand franchises. Its stock price is not far from its five-year low, which might present an excellent opportunity to snap up a bargain.</p><p>Here&#39;s why you should consider buying the dip in Disney stock this year.</p><h2>A state of transition</h2><p>Disney was one of the few companies to suffer and gain during the pandemic lockdowns prevalent throughout 2020 and 2021. Its parks business experienced massive losses due to closures, while its streaming service Disney+ seemed to launch at the perfect time in 2019. The streaming service received a significant boost to its growth as home-bound people flocked to online entertainment platforms.</p><p>In three years, Disney+ has reached 164.2 million members, pushing the company&#39;s total streaming subscribers to 235.7 million, and beating <b>Netflix</b>&#39;s 223.09 million.</p><p>However, the tables have turned in Disney&#39;s latest quarter. In fourth-quarter 2022, the company&#39;s Parks revenue grew 36% year over year, earning $7.4 billion, while its Media and Entertainment segment saw revenue fall 3% to $12.7 billion. Disney&#39;s operating income filled out a bit more of the story, with Parks operating income rising 136% to $1.5 billion and Media decreasing by 91% to $83 billion.</p><p>The slump in earnings from Disney&#39;s Media and Entertainment segment was primarily driven by the company&#39;s $30 billion content spend in 2022 as it worked to grow Disney+. Additionally, revenue took a hit from reduced theatrical releases, but those releases should increase going forward.</p><p>Throughout 2022, Disney worked to diversify its business with its flagship streaming platform while also making changes within its parks to maximize profits. Its efforts have taken substantial investments but have paid off in its increasing subscriber count. Disney isn&#39;t done yet, as its ad-supported tier on Disney+ still has yet to launch, which could open the door for a revenue boost in the second half of fiscal 2023.</p><p>The going might get tough for the short term, but if all goes according to Disney&#39;s plan, it could come out the other side with a reliable parks business and a highly profitable streaming platform.</p><h2>Excellent long-term prospects</h2><p>Despite Disney&#39;s streaming pitfalls in its fourth quarter, the company expects Disney+ to reach profitability in its fiscal 2024, with its operating losses beginning to &#34;narrow going forward.&#34; It has said price increases across its streaming platforms, and the introduction of its ad-supported tier on Dec. 8, will set it on the path toward profits.</p><p>Disney+ has risen faster than any streaming service in history. Industry founder Netflix didn&#39;t reach Disney+&#39;s current subscriber count until 2019, 12 years after its streaming service launched in 2007. Disney has accomplished its swift streaming expansion with the draw of its incredibly potent content brands such as Marvel, Star Wars, Pixar, 20th Century Studios, and all of its franchises from Walt Disney Studios.</p><p>If investors are patient, they could see big gains as Disney grows its dominance over the $327 billion streaming industry in the coming years. Fortune Business Insights expects it to see a 19.9% compound annual growth rate and reach a value of $1.6 trillion by 2029.</p><p>Moreover, Disney has taken steps to maximize profits at its parks in 2022, which could boost earnings even if attendance slips amid a potential recession. Moves such as ticket price increases and monetizing its once complimentary FastPass service are ways the company can increase its revenue per guest and grow profits.</p><p>Disney has embarked on an expensive but promising transition to diversify its business, maximize efficiency, and grow revenue over the long term. And with a price-to-earnings ratio at 69% below what it was a year ago, Disney stock is a bargain and worth buying on the dip to hold long-term.</p></body></html>","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>Should Investors Buy the Dip On Disney Stock?</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\">\nShould Investors Buy the Dip On Disney Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-11-13 08:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.fool.com/investing/2022/11/12/should-investors-buy-the-dip-on-disney-stock/><strong>Motley Fool</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Amid a stock market sell-off in 2022, Disney shares have fallen 44% since January. The company's fourth-quarter earnings release on Nov. 8 was a bit of a mixed bag, as its parks revenue soared, but ...</p>\n\n<a href=\"https://www.fool.com/investing/2022/11/12/should-investors-buy-the-dip-on-disney-stock/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"DIS":"迪士尼"},"source_url":"https://www.fool.com/investing/2022/11/12/should-investors-buy-the-dip-on-disney-stock/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2282450259","content_text":"Amid a stock market sell-off in 2022, Disney shares have fallen 44% since January. The company's fourth-quarter earnings release on Nov. 8 was a bit of a mixed bag, as its parks revenue soared, but its media segment took some concerning hits.In 2023, the company will be heading into its second century of business and a potential recession. While Disney's short-term prospects may be uncertain, the company has proven the staying power of its content and is home to some of the world's most in-demand franchises. Its stock price is not far from its five-year low, which might present an excellent opportunity to snap up a bargain.Here's why you should consider buying the dip in Disney stock this year.A state of transitionDisney was one of the few companies to suffer and gain during the pandemic lockdowns prevalent throughout 2020 and 2021. Its parks business experienced massive losses due to closures, while its streaming service Disney+ seemed to launch at the perfect time in 2019. The streaming service received a significant boost to its growth as home-bound people flocked to online entertainment platforms.In three years, Disney+ has reached 164.2 million members, pushing the company's total streaming subscribers to 235.7 million, and beating Netflix's 223.09 million.However, the tables have turned in Disney's latest quarter. In fourth-quarter 2022, the company's Parks revenue grew 36% year over year, earning $7.4 billion, while its Media and Entertainment segment saw revenue fall 3% to $12.7 billion. Disney's operating income filled out a bit more of the story, with Parks operating income rising 136% to $1.5 billion and Media decreasing by 91% to $83 billion.The slump in earnings from Disney's Media and Entertainment segment was primarily driven by the company's $30 billion content spend in 2022 as it worked to grow Disney+. Additionally, revenue took a hit from reduced theatrical releases, but those releases should increase going forward.Throughout 2022, Disney worked to diversify its business with its flagship streaming platform while also making changes within its parks to maximize profits. Its efforts have taken substantial investments but have paid off in its increasing subscriber count. Disney isn't done yet, as its ad-supported tier on Disney+ still has yet to launch, which could open the door for a revenue boost in the second half of fiscal 2023.The going might get tough for the short term, but if all goes according to Disney's plan, it could come out the other side with a reliable parks business and a highly profitable streaming platform.Excellent long-term prospectsDespite Disney's streaming pitfalls in its fourth quarter, the company expects Disney+ to reach profitability in its fiscal 2024, with its operating losses beginning to \"narrow going forward.\" It has said price increases across its streaming platforms, and the introduction of its ad-supported tier on Dec. 8, will set it on the path toward profits.Disney+ has risen faster than any streaming service in history. Industry founder Netflix didn't reach Disney+'s current subscriber count until 2019, 12 years after its streaming service launched in 2007. Disney has accomplished its swift streaming expansion with the draw of its incredibly potent content brands such as Marvel, Star Wars, Pixar, 20th Century Studios, and all of its franchises from Walt Disney Studios.If investors are patient, they could see big gains as Disney grows its dominance over the $327 billion streaming industry in the coming years. Fortune Business Insights expects it to see a 19.9% compound annual growth rate and reach a value of $1.6 trillion by 2029.Moreover, Disney has taken steps to maximize profits at its parks in 2022, which could boost earnings even if attendance slips amid a potential recession. Moves such as ticket price increases and monetizing its once complimentary FastPass service are ways the company can increase its revenue per guest and grow profits.Disney has embarked on an expensive but promising transition to diversify its business, maximize efficiency, and grow revenue over the long term. And with a price-to-earnings ratio at 69% below what it was a year ago, Disney stock is a bargain and worth buying on the dip to hold long-term.","news_type":1},"isVote":1,"tweetType":1,"viewCount":477,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989414868,"gmtCreate":1666059120855,"gmtModify":1676537698967,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"😬","listText":"😬","text":"😬","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9989414868","repostId":"1160967547","repostType":4,"repost":{"id":"1160967547","pubTimestamp":1666065333,"share":"https://www.laohu8.com/m/news/1160967547?lang=&edition=full","pubTime":"2022-10-18 11:55","market":"us","language":"en","title":"One Trading Strategy Is Winning Big in This Nasty Year for Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1160967547","media":"Bloomberg","summary":"Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is be","content":"<html><head></head><body><ul><li>Dispersion trade up as single stocks swing, VIX stays muted</li><li>Subdued demand for portfolio hedges is behind volatility quirk</li></ul><p>A strange thing keeps happening in this nightmare year on Wall Street: Seemingly surefire bets that outsize volatility will engulf equity indexes keep misfiring, even as those riding turmoil in single stocks pay off handsomely.</p><p>That’s proving a boon for a niche strategy known as dispersion trading, with nimble money managers netting double-digit gains by taking advantage of quirks in the world of equity derivatives.</p><p>Take the Cboe Volatility Index, a gauge of market-wide fear. Even as the S&amp;P 500 careens to fresh lows, it’s stuck below its March peak and actually declined in the aftermath of last week’s hot inflation report. At the same time the Federal Reserve’s disruptive policy-tightening campaign is fueling the wildest price swings for US large cap companies since the global financial crisis.</p><p>The thinking goes that the winners and losers in the S&amp;P 500 have become more pronounced in a world where corporate fundamentals matter. But index volatility is proving less severe, as price moves of its constituents offset each other, while demand for hedges remains muted due to low investor positioning.</p><p>For whatever reason this short-index-long-single-stock-volatility trade is working and may prove particularly lucrative this earnings season. The likes of PepsiCo Inc. and JPMorgan Chase &amp; Co. have been posting notable gains after better-than-expected reports while disappointments such as Morgan Stanley are getting punished.</p><p>“We haven’t seen any panic protection buying that will drive volatility much higher,” said Daniel Danon, managing director at Assenagon Asset Management, whose Assenagon Alpha Volatility fund is up 12% this year. “So your short leg is helping your long leg to perform.”</p><p><img src=\"https://static.tigerbbs.com/fe8b52b93f4df214ea58016e8a3f317f\" tg-width=\"739\" tg-height=\"442\" referrerpolicy=\"no-referrer\"/>The VIX, which tracks the cost of S&amp;P 500 options, has stayed at elevated levels relative to its five-year average, but it’s yet to revisit 2022 highs of above 35 points. At the same time individual members in the S&amp;P 500 have been moving the most since the global financial crisis, according to Societe Generale SA.</p><p>While the Fed’s hike-at-all-costs policy stance has ignited fear and loathing for investors in bonds and currencies, the cost of one-month bearish put options on the equity benchmark versus bullish calls has slipped anew to the lowest since 2017. That suggests limited investor appetite to hedge at the index level.</p><p>Why that’s the case despite a prolonged drawdown has become a hot topic among market watchers of late. Some point out that money managers have slashed equity exposure to multi-year lows, itself a defensive stance that requires less protection. Others say a relatively orderly decline has made options hedging less rewarding than usual, prompting traders to short equity futures as an alternative way to buffer against losses.</p><p>A relatively well behaved VIX stands out at a time when the Fed’s resolve to crush inflation at decade highs with tighter policy is rocking the underbelly of of US equities. Some oil producers have doubled their share prices in this year’s supply-side mayhem while Big Tech names like Netflix Inc. and Meta Platforms Inc. have plunged big time in a rate-sensitive selloff that’s now casting a shadow over the business cycle.</p><p>“It’s about rotation between sectors at the moment,” said Stephen Crewe, whose Fulcrum Equity Dispersion Fund is up 10% this year. The London-based manager is positioning for continued volatility among companies in the technology and energy sectors. “No one really knows where the US economy is going to end up,” he said.</p><p>The strategy, which has cooled of late after notching outsize gains earlier in the year, is deployed mostly by volatility hedge funds and banks packaging it into systematic strategies. Versions of the trade may buy options on a basket of stocks while others, like those managed by Assenagon and Fulcrum, are more selective. Some are neutral to volatility, whereas others are buying more options than they sell.</p><p><img src=\"https://static.tigerbbs.com/f76b822562cb2fbba098512880ec9038\" tg-width=\"698\" tg-height=\"392\" referrerpolicy=\"no-referrer\"/>With expected swings embedded in index-level option prices relatively contained, it’s been harder for typical derivatives hedges to make money, with the payoff hinging more on getting the strike price or market timing right. For instance, an S&amp;P 500-tracking portfolio that’s added calls on the VIX -- which is supposed to buffer portfolios against a sudden outbreak in price swings -- has suffered a four-percentage-point drag on performance, a Cboe index shows.</p><p>Yet going forward, the big challenge for dispersion traders is hiding in plain sight: Supersized Fed rate hikes risk causing a sudden collapse in economic growth that may in turn spur a big jump in index volatility.</p><p>Still for now, institutions appear to have little appetite for adding market hedges, according to Michael Purves, founder of Tallbacken Capital Advisors. He recommends betting on the VIX to fall till the end of the year.</p><p>“Perhaps yields can creep higher, but not in a shocking way the way they did when they pierced 4% in September,” he wrote in a note. “Markets appear to have processed the notion that there is little doubt that a Fed pivot is not close at hand.”</p></body></html>","source":"lsy1584095487587","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>One Trading Strategy Is Winning Big in This Nasty Year for Stocks</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\">\nOne Trading Strategy Is Winning Big in This Nasty Year for Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-18 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is behind volatility quirkA strange thing keeps happening in this nightmare year on Wall Street: ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIX":"标普500波动率指数"},"source_url":"https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160967547","content_text":"Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is behind volatility quirkA strange thing keeps happening in this nightmare year on Wall Street: Seemingly surefire bets that outsize volatility will engulf equity indexes keep misfiring, even as those riding turmoil in single stocks pay off handsomely.That’s proving a boon for a niche strategy known as dispersion trading, with nimble money managers netting double-digit gains by taking advantage of quirks in the world of equity derivatives.Take the Cboe Volatility Index, a gauge of market-wide fear. Even as the S&P 500 careens to fresh lows, it’s stuck below its March peak and actually declined in the aftermath of last week’s hot inflation report. At the same time the Federal Reserve’s disruptive policy-tightening campaign is fueling the wildest price swings for US large cap companies since the global financial crisis.The thinking goes that the winners and losers in the S&P 500 have become more pronounced in a world where corporate fundamentals matter. But index volatility is proving less severe, as price moves of its constituents offset each other, while demand for hedges remains muted due to low investor positioning.For whatever reason this short-index-long-single-stock-volatility trade is working and may prove particularly lucrative this earnings season. The likes of PepsiCo Inc. and JPMorgan Chase & Co. have been posting notable gains after better-than-expected reports while disappointments such as Morgan Stanley are getting punished.“We haven’t seen any panic protection buying that will drive volatility much higher,” said Daniel Danon, managing director at Assenagon Asset Management, whose Assenagon Alpha Volatility fund is up 12% this year. “So your short leg is helping your long leg to perform.”The VIX, which tracks the cost of S&P 500 options, has stayed at elevated levels relative to its five-year average, but it’s yet to revisit 2022 highs of above 35 points. At the same time individual members in the S&P 500 have been moving the most since the global financial crisis, according to Societe Generale SA.While the Fed’s hike-at-all-costs policy stance has ignited fear and loathing for investors in bonds and currencies, the cost of one-month bearish put options on the equity benchmark versus bullish calls has slipped anew to the lowest since 2017. That suggests limited investor appetite to hedge at the index level.Why that’s the case despite a prolonged drawdown has become a hot topic among market watchers of late. Some point out that money managers have slashed equity exposure to multi-year lows, itself a defensive stance that requires less protection. Others say a relatively orderly decline has made options hedging less rewarding than usual, prompting traders to short equity futures as an alternative way to buffer against losses.A relatively well behaved VIX stands out at a time when the Fed’s resolve to crush inflation at decade highs with tighter policy is rocking the underbelly of of US equities. Some oil producers have doubled their share prices in this year’s supply-side mayhem while Big Tech names like Netflix Inc. and Meta Platforms Inc. have plunged big time in a rate-sensitive selloff that’s now casting a shadow over the business cycle.“It’s about rotation between sectors at the moment,” said Stephen Crewe, whose Fulcrum Equity Dispersion Fund is up 10% this year. The London-based manager is positioning for continued volatility among companies in the technology and energy sectors. “No one really knows where the US economy is going to end up,” he said.The strategy, which has cooled of late after notching outsize gains earlier in the year, is deployed mostly by volatility hedge funds and banks packaging it into systematic strategies. Versions of the trade may buy options on a basket of stocks while others, like those managed by Assenagon and Fulcrum, are more selective. Some are neutral to volatility, whereas others are buying more options than they sell.With expected swings embedded in index-level option prices relatively contained, it’s been harder for typical derivatives hedges to make money, with the payoff hinging more on getting the strike price or market timing right. For instance, an S&P 500-tracking portfolio that’s added calls on the VIX -- which is supposed to buffer portfolios against a sudden outbreak in price swings -- has suffered a four-percentage-point drag on performance, a Cboe index shows.Yet going forward, the big challenge for dispersion traders is hiding in plain sight: Supersized Fed rate hikes risk causing a sudden collapse in economic growth that may in turn spur a big jump in index volatility.Still for now, institutions appear to have little appetite for adding market hedges, according to Michael Purves, founder of Tallbacken Capital Advisors. He recommends betting on the VIX to fall till the end of the year.“Perhaps yields can creep higher, but not in a shocking way the way they did when they pierced 4% in September,” he wrote in a note. “Markets appear to have processed the notion that there is little doubt that a Fed pivot is not close at hand.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989827711,"gmtCreate":1665972738333,"gmtModify":1676537685378,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>","listText":"<a href=\"https://ttm.financial/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>","text":"$Coinbase Global, Inc.(COIN)$","images":[{"img":"https://community-static.tradeup.com/news/11466834dfc237072f9a9fefbb8eca68","width":"1170","height":"2292"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9989827711","isVote":1,"tweetType":1,"viewCount":236,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":9099000080,"gmtCreate":1643274672970,"gmtModify":1676533793815,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"EksnkaDbjemw","listText":"EksnkaDbjemw","text":"EksnkaDbjemw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9099000080","isVote":1,"tweetType":1,"viewCount":403,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9090775818,"gmtCreate":1643274508827,"gmtModify":1676533793760,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9090775818","repostId":"9004448317","repostType":1,"repost":{"id":9004448317,"gmtCreate":1642676525258,"gmtModify":1676533734534,"author":{"id":"3527667667103859","authorId":"3527667667103859","name":"TigerEvents","avatar":"https://community-static.tradeup.com/news/61ed9b39c6cbcdce6372edc1c0b48a2d","crmLevel":1,"crmLevelSwitch":0},"themes":[],"title":"Join Tiger Ski Championship, Win a Bonus of Up to USD 2022","htmlText":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! Big Rewards are as follow: <a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/happy-new-year/#/\" target=\"_blank\">Click to Join the Game</a>","listText":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! Big Rewards are as follow: <a href=\"https://www.tigerbrokers.com.sg/activity/market/2022/happy-new-year/#/\" target=\"_blank\">Click to Join the Game</a>","text":"2022 is the Year of Tiger in Chinese lunar calendar, it’s also a special year for Tiger Brokers. To celebrate the special year, we want to invite you to join the ski game presented by Tiger Brokers specially, and it’s very easy and interesting game for users to play. Join the game and win a bonus of up to USD 2022 and limited-edition Tiger Toys Spring Festival and Winter Olympic are both on the way, open your Tiger Trade App and play the ski game with us, win golden medals as many as you can! You could have chance to try Lucky Draw when you win medals.The more medal you win, the bigger bonus you may win! 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Game","images":[{"img":"https://static.tigerbbs.com/a7b44fa056439fb4010fa55e163d27c3","width":"750","height":"1726"}],"top":1,"highlighted":1,"essential":2,"paper":2,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9004448317","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":2,"langContent":"EN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":376,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9009347889,"gmtCreate":1640533658044,"gmtModify":1676533524745,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"&nbsp;B","listText":"&nbsp;B","text":"B","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9009347889","repostId":"698247741","repostType":1,"repost":{"id":698247741,"gmtCreate":1640424405076,"gmtModify":1676532453384,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>ufigi","listText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>ufigi","text":"$Alibaba(BABA)$ufigi","images":[{"img":"https://static.tigerbbs.com/510ae923006e7192d006927082d0ec85","width":"1125","height":"4257"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/698247741","isVote":1,"tweetType":1,"viewCount":0,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"CN","totalScore":0},"isVote":1,"tweetType":1,"viewCount":466,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":173272720,"gmtCreate":1626666119560,"gmtModify":1703762996066,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>??","listText":"<a href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>??","text":"$Coinbase Global, Inc.(COIN)$??","images":[{"img":"https://static.tigerbbs.com/53ec4103976361c00e6c127a5c3a5ddf","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":92,"repostSize":0,"link":"https://ttm.financial/post/173272720","isVote":1,"tweetType":1,"viewCount":591,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":179472476,"gmtCreate":1626574429895,"gmtModify":1703761879741,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>Hope good earnings&nbsp;","listText":"<a href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>Hope good earnings&nbsp;","text":"$Coinbase Global, Inc.(COIN)$Hope good earnings","images":[{"img":"https://static.tigerbbs.com/53ec4103976361c00e6c127a5c3a5ddf","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/179472476","isVote":1,"tweetType":1,"viewCount":548,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":144007392,"gmtCreate":1626251007916,"gmtModify":1703756350894,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/TME\">$Tencent Music(TME)$</a>???","listText":"<a href=\"https://laohu8.com/S/TME\">$Tencent Music(TME)$</a>???","text":"$Tencent Music(TME)$???","images":[{"img":"https://static.tigerbbs.com/15758af048531719de25e1bb9a1e42f2","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/144007392","isVote":1,"tweetType":1,"viewCount":478,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":1,"langContent":"EN","totalScore":0},{"id":142665221,"gmtCreate":1626147034963,"gmtModify":1703754291113,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/BABA\">$Alibaba(BABA)$</a>...","listText":"<a 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href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>Earnings report - ???? What’s your view?","listText":"<a href=\"https://laohu8.com/S/COIN\">$Coinbase Global, Inc.(COIN)$</a>Earnings report - ???? What’s your view?","text":"$Coinbase Global, Inc.(COIN)$Earnings report - ???? What’s your view?","images":[{"img":"https://static.tigerbbs.com/a270070c2c028a786c26395cf88a8ff0","width":"1125","height":"1949"}],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":7,"repostSize":0,"link":"https://ttm.financial/post/191736746","isVote":1,"tweetType":1,"viewCount":1456,"authorTweetTopStatus":1,"verified":2,"comments":[{"author":{"id":"3583640773277835","authorId":"3583640773277835","name":"Hobson","avatar":"https://static.tigerbbs.com/867e483544ca64979bd32fbcb28d28e7","crmLevel":6,"crmLevelSwitch":0},"content":"I hope its good news. I do not Want to cut losses too","text":"I hope its good news. I do not Want to cut losses too","html":"I hope its good news. I do not Want to cut losses too"}],"imageCount":1,"langContent":"EN","totalScore":0},{"id":101174462,"gmtCreate":1619870194556,"gmtModify":1704335918849,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"Interesting!","listText":"Interesting!","text":"Interesting!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":5,"repostSize":0,"link":"https://ttm.financial/post/101174462","repostId":"1142063705","repostType":4,"isVote":1,"tweetType":1,"viewCount":36,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":9989414868,"gmtCreate":1666059120855,"gmtModify":1676537698967,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"😬","listText":"😬","text":"😬","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":9,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/9989414868","repostId":"1160967547","repostType":4,"repost":{"id":"1160967547","pubTimestamp":1666065333,"share":"https://www.laohu8.com/m/news/1160967547?lang=&edition=full","pubTime":"2022-10-18 11:55","market":"us","language":"en","title":"One Trading Strategy Is Winning Big in This Nasty Year for Stocks","url":"https://stock-news.laohu8.com/highlight/detail?id=1160967547","media":"Bloomberg","summary":"Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is be","content":"<html><head></head><body><ul><li>Dispersion trade up as single stocks swing, VIX stays muted</li><li>Subdued demand for portfolio hedges is behind volatility quirk</li></ul><p>A strange thing keeps happening in this nightmare year on Wall Street: Seemingly surefire bets that outsize volatility will engulf equity indexes keep misfiring, even as those riding turmoil in single stocks pay off handsomely.</p><p>That’s proving a boon for a niche strategy known as dispersion trading, with nimble money managers netting double-digit gains by taking advantage of quirks in the world of equity derivatives.</p><p>Take the Cboe Volatility Index, a gauge of market-wide fear. Even as the S&amp;P 500 careens to fresh lows, it’s stuck below its March peak and actually declined in the aftermath of last week’s hot inflation report. At the same time the Federal Reserve’s disruptive policy-tightening campaign is fueling the wildest price swings for US large cap companies since the global financial crisis.</p><p>The thinking goes that the winners and losers in the S&amp;P 500 have become more pronounced in a world where corporate fundamentals matter. But index volatility is proving less severe, as price moves of its constituents offset each other, while demand for hedges remains muted due to low investor positioning.</p><p>For whatever reason this short-index-long-single-stock-volatility trade is working and may prove particularly lucrative this earnings season. The likes of PepsiCo Inc. and JPMorgan Chase &amp; Co. have been posting notable gains after better-than-expected reports while disappointments such as Morgan Stanley are getting punished.</p><p>“We haven’t seen any panic protection buying that will drive volatility much higher,” said Daniel Danon, managing director at Assenagon Asset Management, whose Assenagon Alpha Volatility fund is up 12% this year. “So your short leg is helping your long leg to perform.”</p><p><img src=\"https://static.tigerbbs.com/fe8b52b93f4df214ea58016e8a3f317f\" tg-width=\"739\" tg-height=\"442\" referrerpolicy=\"no-referrer\"/>The VIX, which tracks the cost of S&amp;P 500 options, has stayed at elevated levels relative to its five-year average, but it’s yet to revisit 2022 highs of above 35 points. At the same time individual members in the S&amp;P 500 have been moving the most since the global financial crisis, according to Societe Generale SA.</p><p>While the Fed’s hike-at-all-costs policy stance has ignited fear and loathing for investors in bonds and currencies, the cost of one-month bearish put options on the equity benchmark versus bullish calls has slipped anew to the lowest since 2017. That suggests limited investor appetite to hedge at the index level.</p><p>Why that’s the case despite a prolonged drawdown has become a hot topic among market watchers of late. Some point out that money managers have slashed equity exposure to multi-year lows, itself a defensive stance that requires less protection. Others say a relatively orderly decline has made options hedging less rewarding than usual, prompting traders to short equity futures as an alternative way to buffer against losses.</p><p>A relatively well behaved VIX stands out at a time when the Fed’s resolve to crush inflation at decade highs with tighter policy is rocking the underbelly of of US equities. Some oil producers have doubled their share prices in this year’s supply-side mayhem while Big Tech names like Netflix Inc. and Meta Platforms Inc. have plunged big time in a rate-sensitive selloff that’s now casting a shadow over the business cycle.</p><p>“It’s about rotation between sectors at the moment,” said Stephen Crewe, whose Fulcrum Equity Dispersion Fund is up 10% this year. The London-based manager is positioning for continued volatility among companies in the technology and energy sectors. “No one really knows where the US economy is going to end up,” he said.</p><p>The strategy, which has cooled of late after notching outsize gains earlier in the year, is deployed mostly by volatility hedge funds and banks packaging it into systematic strategies. Versions of the trade may buy options on a basket of stocks while others, like those managed by Assenagon and Fulcrum, are more selective. Some are neutral to volatility, whereas others are buying more options than they sell.</p><p><img src=\"https://static.tigerbbs.com/f76b822562cb2fbba098512880ec9038\" tg-width=\"698\" tg-height=\"392\" referrerpolicy=\"no-referrer\"/>With expected swings embedded in index-level option prices relatively contained, it’s been harder for typical derivatives hedges to make money, with the payoff hinging more on getting the strike price or market timing right. For instance, an S&amp;P 500-tracking portfolio that’s added calls on the VIX -- which is supposed to buffer portfolios against a sudden outbreak in price swings -- has suffered a four-percentage-point drag on performance, a Cboe index shows.</p><p>Yet going forward, the big challenge for dispersion traders is hiding in plain sight: Supersized Fed rate hikes risk causing a sudden collapse in economic growth that may in turn spur a big jump in index volatility.</p><p>Still for now, institutions appear to have little appetite for adding market hedges, according to Michael Purves, founder of Tallbacken Capital Advisors. He recommends betting on the VIX to fall till the end of the year.</p><p>“Perhaps yields can creep higher, but not in a shocking way the way they did when they pierced 4% in September,” he wrote in a note. “Markets appear to have processed the notion that there is little doubt that a Fed pivot is not close at hand.”</p></body></html>","source":"lsy1584095487587","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>One Trading Strategy Is Winning Big in This Nasty Year for Stocks</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\">\nOne Trading Strategy Is Winning Big in This Nasty Year for Stocks\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-10-18 11:55 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is behind volatility quirkA strange thing keeps happening in this nightmare year on Wall Street: ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"VIX":"标普500波动率指数"},"source_url":"https://www.bloomberg.com/news/articles/2022-10-17/one-options-trade-wins-big-in-strange-year-for-stock-volatility","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1160967547","content_text":"Dispersion trade up as single stocks swing, VIX stays mutedSubdued demand for portfolio hedges is behind volatility quirkA strange thing keeps happening in this nightmare year on Wall Street: Seemingly surefire bets that outsize volatility will engulf equity indexes keep misfiring, even as those riding turmoil in single stocks pay off handsomely.That’s proving a boon for a niche strategy known as dispersion trading, with nimble money managers netting double-digit gains by taking advantage of quirks in the world of equity derivatives.Take the Cboe Volatility Index, a gauge of market-wide fear. Even as the S&P 500 careens to fresh lows, it’s stuck below its March peak and actually declined in the aftermath of last week’s hot inflation report. At the same time the Federal Reserve’s disruptive policy-tightening campaign is fueling the wildest price swings for US large cap companies since the global financial crisis.The thinking goes that the winners and losers in the S&P 500 have become more pronounced in a world where corporate fundamentals matter. But index volatility is proving less severe, as price moves of its constituents offset each other, while demand for hedges remains muted due to low investor positioning.For whatever reason this short-index-long-single-stock-volatility trade is working and may prove particularly lucrative this earnings season. The likes of PepsiCo Inc. and JPMorgan Chase & Co. have been posting notable gains after better-than-expected reports while disappointments such as Morgan Stanley are getting punished.“We haven’t seen any panic protection buying that will drive volatility much higher,” said Daniel Danon, managing director at Assenagon Asset Management, whose Assenagon Alpha Volatility fund is up 12% this year. “So your short leg is helping your long leg to perform.”The VIX, which tracks the cost of S&P 500 options, has stayed at elevated levels relative to its five-year average, but it’s yet to revisit 2022 highs of above 35 points. At the same time individual members in the S&P 500 have been moving the most since the global financial crisis, according to Societe Generale SA.While the Fed’s hike-at-all-costs policy stance has ignited fear and loathing for investors in bonds and currencies, the cost of one-month bearish put options on the equity benchmark versus bullish calls has slipped anew to the lowest since 2017. That suggests limited investor appetite to hedge at the index level.Why that’s the case despite a prolonged drawdown has become a hot topic among market watchers of late. Some point out that money managers have slashed equity exposure to multi-year lows, itself a defensive stance that requires less protection. Others say a relatively orderly decline has made options hedging less rewarding than usual, prompting traders to short equity futures as an alternative way to buffer against losses.A relatively well behaved VIX stands out at a time when the Fed’s resolve to crush inflation at decade highs with tighter policy is rocking the underbelly of of US equities. Some oil producers have doubled their share prices in this year’s supply-side mayhem while Big Tech names like Netflix Inc. and Meta Platforms Inc. have plunged big time in a rate-sensitive selloff that’s now casting a shadow over the business cycle.“It’s about rotation between sectors at the moment,” said Stephen Crewe, whose Fulcrum Equity Dispersion Fund is up 10% this year. The London-based manager is positioning for continued volatility among companies in the technology and energy sectors. “No one really knows where the US economy is going to end up,” he said.The strategy, which has cooled of late after notching outsize gains earlier in the year, is deployed mostly by volatility hedge funds and banks packaging it into systematic strategies. Versions of the trade may buy options on a basket of stocks while others, like those managed by Assenagon and Fulcrum, are more selective. Some are neutral to volatility, whereas others are buying more options than they sell.With expected swings embedded in index-level option prices relatively contained, it’s been harder for typical derivatives hedges to make money, with the payoff hinging more on getting the strike price or market timing right. For instance, an S&P 500-tracking portfolio that’s added calls on the VIX -- which is supposed to buffer portfolios against a sudden outbreak in price swings -- has suffered a four-percentage-point drag on performance, a Cboe index shows.Yet going forward, the big challenge for dispersion traders is hiding in plain sight: Supersized Fed rate hikes risk causing a sudden collapse in economic growth that may in turn spur a big jump in index volatility.Still for now, institutions appear to have little appetite for adding market hedges, according to Michael Purves, founder of Tallbacken Capital Advisors. He recommends betting on the VIX to fall till the end of the year.“Perhaps yields can creep higher, but not in a shocking way the way they did when they pierced 4% in September,” he wrote in a note. “Markets appear to have processed the notion that there is little doubt that a Fed pivot is not close at hand.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":352,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":135458923,"gmtCreate":1622178618062,"gmtModify":1704180979623,"author":{"id":"3581989005165484","authorId":"3581989005165484","name":"Jasbump","avatar":"https://static.tigerbbs.com/981a9d95c7c29a2ea9871d5dc421630e","crmLevel":2,"crmLevelSwitch":0},"themes":[],"htmlText":"<a href=\"https://laohu8.com/S/PINS\">$Pinterest, Inc.(PINS)$</a>Finally close to breaking even&nbsp;","listText":"<a href=\"https://laohu8.com/S/PINS\">$Pinterest, Inc.(PINS)$</a>Finally close to breaking even&nbsp;","text":"$Pinterest, 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