Upbeat CPI Lifts Market Sentiment, Small Caps Remain Bullish
@OptionsBB:
The latest U.S. data releases showed April CPI and retail sales cooled, with the CPI report prompting markets to price in a faster pace of Fed rate cuts this year.Options market data suggested a continued positive outlook for the S&P 500, though longer-dated put buying remained. Upside room kept expanding in QQQ, with expectations for a rally over 1.3% priced in by May 20 expiration. For small-caps, bullish flows continued in the Russell 2000, with expectations for the index to hold above 210 through June 21.Details:The $SPDR S&P 500 ETF Trust(SPY)$ saw open call interest rise 0.9% over the past 5 days. Open put contracts increased 1.7% over the same period.For call options, investors sold the most