CPI came in inline with estimates.
Bid pressure returned.
IWM 0.00%↑ initially was dislocated from reality on above, turning red, then just took off. Today’s action alone should disprove the efficient market hypothesis if you still believe in it. ODTE Calls did very, very well.
For a better example of a dislocated market just look at the US30Y this morning. Just a moment of discontinuity while algorithms read the news and decide what to do.
Truflation appears to me to have been wrong. Yet they claimed it as a win on Twitter.
With the odds of a rate cut before August now close to 100% my simple rolling IWM 0.00%↑ PUTS strategy is not going to be as easy to pull off.
So back to being bored until the next obvious low-bid pressure day. Still not committing fresh capital here to the speculative accounts.
As always, if you think there are spelling errors update your dictionary to the latest version. Happy speculation!
And don’t forget tomorrow is St. Valentine’s Day. So be nice to snakes.
— AJ
Event Horizon Tools
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