To The Moon

After a three-year hiatus, the Golden State Warriors are the best team in basketball again -- and they had to navigate an injury-driven tumble from the top to the absolute bottom to do it. There's a lesson in there about bear markets, recessions, and all the fears gripping investors right now.After the stock market's tumble this past week, investors probably feel like Warriors star Stephen Curry in 2020 asking what else could possibly go wrong. The S&P 500 dropped 5.8%, its worst weekly decline since March 2020, while the Dow Jones Industrial Average and the Nasdaq Composite both fell 4.8%.It was "the worst stretch of selling in the history of the S&P 500," according to Sundial Capital Research's Jason Goepfert, who noted that there were five days since June 8 when more than 90% of

These positions are likely adding to the overall market volatility," said SpotGamma founder Brent Kochuba.Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.U.S. markets will be shut on Monday for the Juneteenth holiday.Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.

These positions are likely adding to the overall market volatility," said SpotGamma founder Brent Kochuba.Goldman Sachs estimated this week that about $3.4 trillion of U.S. stock options were set to expire on Friday, a much larger than usual quarterly figure.U.S. markets will be shut on Monday for the Juneteenth holiday.Some market participants expect more demand for hedging of portfolios as investors face a possible recession. A large number of bearish positions expiring could also provide some relief in the near term, they said.The Federal Reserve's 75 basis point interest rate hike on Wednesday and the possibility of more hikes to tame decades-high inflation has put the S&P 500 on course for its worst weekly performance since the pandemic-led crash in 2020.

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