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- NashaNasha
  ·2021-05-30
  Hope it dips more! Please like & comment [Cool]
  非常抱歉，此主贴已删除
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- NashaNasha
  ·2021-05-23
  !
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- NashaNasha
  ·2021-05-02
  Please like [Love you]
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- NashaNasha
  ·2021-04-28
  Please like [Happy]
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- NashaNasha
  ·2021-04-26
  Me too please :)
  The Stock Market Got Spooked Last Week. Here’s This Week’s Surprise.<blockquote>上周股市受到了惊吓。这是本周的惊喜。</blockquote>
  When everything is going swimmingly, even a little bad news can go a long way. This past week the st
  The Stock Market Got Spooked Last Week. Here’s This Week’s Surprise.<blockquote>上周股市受到了惊吓。这是本周的惊喜。</blockquote>
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- NashaNasha
  ·2021-04-17
  Please like & share [开心]
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- NashaNasha
  ·2021-04-17
  Please help to comment & like [爱你]
  $544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>
  While it's not quad (or even triple) witching day, today's a whole lot of weekly options will expire
  $544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>
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- NashaNasha
  ·2021-03-22
  [得意]
  非常抱歉，此主贴已删除
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Here’s This Week’s Surprise.<blockquote>上周股市受到了惊吓。这是本周的惊喜。</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1197595754","media":"MarketWatch","summary":"When everything is going swimmingly, even a little bad news can go a long way. This past week the st","content":"<p>When everything is going swimmingly, even a little bad news can go a long way. This past week the stock market got swung about by information everyone knew was coming.</p><p><blockquote>当一切进展顺利时，即使是一点点坏消息也会有很大帮助。过去一周，股市因每个人都知道即将到来的信息而波动。</blockquote></p><p> President Joe Biden made no secret of his plan to raise capital-gains taxes on the very wealthy. It was a campaign pledge, one that got enough attention for Goldman Sachs to release a note looking at thehistorical impact of previous increases on the stock market. (The answer: not very much.) Since then the possibility has been discussed, debated, andwritten about on Wall Streetand beyond.</p><p><blockquote>乔·拜登总统毫不掩饰他对非常富有的人提高资本利得税的计划。这是一项竞选承诺，引起了足够的关注，高盛发布了一份报告，研究了之前股市上涨的历史影响。（答案是：不是很多。）从那时起，华尔街内外就一直在讨论、辩论和撰写关于这种可能性的文章。</blockquote></p><p> And yet when news “broke” that the Biden administration was considering raising the top capital-gains tax rate on millionaires to 39.6%,the stock market suddenly declined, with theS&amp;P 500dropping 1.3% from its high of the day to its low in less than one hour.</p><p><blockquote>然而，当拜登政府考虑将百万富翁的最高资本利得税率提高至39.6%的消息“爆出”时，股市突然下跌，标准普尔500指数在不到一个小时的时间内从当日高点下跌1.3%至低点。</blockquote></p><p> The damage was transitory—the S&amp;P 500 closed the week off 0.1%, to 4180.17, while theDow Jones Industrial Averagefell 157.18 points, or 0.5%, to 34,043.49, and theNasdaq Compositedeclined 0.3%, to 14,016.81. But it does indicate that the market might be a little sensitive to small changes.</p><p><blockquote>这种损害是暂时的——标普500本周收盘下跌0.1%，至4180.17点，道琼斯工业平均指数下跌157.18点，即0.5%，至34,043.49点，纳斯达克综合指数下跌0.3%，至14,016.81点。但这确实表明市场可能对微小的变化有点敏感。</blockquote></p><p> “It was no surprise at all, but it still caused a reaction,” says Dave Donabedian, chief investment officer at CIBC Private Wealth Management. “When you’ve had a run like we’ve had, it’s hard to get upset about a pause.”</p><p><blockquote>CIBC私人财富管理公司首席投资官戴夫·多纳贝迪安(Dave Donabedian)表示：“这一点也不令人意外，但仍然引起了反应。”“当你像我们一样跑步时，很难因为暂停而感到不安。”</blockquote></p><p> It’s not just known bad news that’s causing stocks to fall—it’s known good news as well. It has been a solid earnings season so far, with 85% of companies that have reported topping analyst estimates, far higher than the long-term average of 65% and even the four-quarter average of 76%, according to historical earnings data from Refinitiv.</p><p><blockquote>导致股市下跌的不仅仅是已知的坏消息，还有已知的好消息。根据Refinitiv的历史盈利数据，迄今为止，这是一个稳健的财报季，85%的公司报告超出了分析师的预期，远高于65%的长期平均水平，甚至高于76%的四个季度平均水平。</blockquote></p><p> But as we’ve seen recently, just beating forecasts isn’t enough. Only about half of the companies reporting earnings beats through Wednesday saw their stocks move higher afterward, according to Wells Fargo Securities data. And some big, well-known companies suffered sizable drops following beats, includingNetflix(ticker: NFLX),which tumbled7.4% after reporting on Tuesday, andIntel(INTC), whichdropped 5.3%this past Friday.</p><p><blockquote>但正如我们最近所看到的，仅仅超出预期是不够的。富国银行证券的数据显示，截至周三公布盈利超出预期的公司中，只有约一半的股价随后上涨。一些大型知名公司在节拍后股价大幅下跌，其中包括Netflix（股票代码：NFLX），周二公布财报后下跌7.4%，英特尔(INTC)，上周五下跌5.3%。</blockquote></p><p> Don’t be surprised if earnings—or at least the expectations around earnings—become a bigger problem for the stock market. Earnings are expected to grow by 43% during the second quarter, 55% during the third, and 75% during the fourth, according to Ned Davis, senior investment strategist at Ned Davis Research. But the stock market has gained just 2.4% a year when expectations for profit growth have been 20% or higher. “By the time really good…or bad…earnings are reported…the good or bad news has been largely priced in,” he writes.</p><p><blockquote>如果盈利——或者至少是围绕盈利的预期——成为股市更大的问题，请不要感到惊讶。Ned Davis Research高级投资策略师Ned Davis表示，预计第二季度盈利将增长43%，第三季度增长55%，第四季度增长75%。但当利润增长预期为20%或更高时，股市每年仅上涨2.4%。“当真正好的……或坏的……收益被报告时……好消息或坏消息已经在很大程度上被消化了，”他写道。</blockquote></p><p> If even this has the ability to knock stocks down, what about a real surprise? No one expects one from the Federal Reserve when itreleases its monetary policy statementthis coming Wednesday, and Chairman Jerome Powell will likely stick to the story that inflation is transitory and he won’t have to raise interest rates for a long, long time.</p><p><blockquote>如果连这都有能力压低股票，那么真正的惊喜呢？没有人预计美联储在本周三发布货币政策声明时会做出这样的声明，主席杰罗姆·鲍威尔可能会坚持通胀是暂时的，他在很长很长一段时间内都不必加息的说法。</blockquote></p><p> Still, that’s going to get harder. Economic data continue to get better—jobless claims fell to another postpandemic low in the most recent report—and the Fed will have to show that it recognizes that growth, while still having a reason to take things slow. The fact that the Bank of Canada said it would buy fewer bonds and Russia raised interest rates will only make that harder. “The Fed won’t change monetary policy at next week’s meeting, but with the economy reopening, jobs returning, activity booming, and inflation climbing, a sense of anticipation is starting to build,” writes James Knightley, ING’s chief international economist.</p><p><blockquote>尽管如此，这将变得更加困难。经济数据继续好转——在最近的报告中，初请失业金人数降至大流行后的另一个低点——美联储必须表明它认识到这种增长，同时仍有理由放慢速度。加拿大央行表示将减少购买债券以及俄罗斯加息的事实只会让这变得更加困难。ING首席国际经济学家詹姆斯·奈特利(James Knightley)写道：“美联储不会在下周的会议上改变货币政策，但随着经济重新开放、就业回归、经济活动蓬勃发展和通胀攀升，预期感开始增强。”</blockquote></p><p> Let’s hope it doesn’t turn to trepidation.</p><p><blockquote>让我们希望它不会变成恐惧。</blockquote></p><p> <b><i>Corrections &amp; Amplifications</i></b></p><p><blockquote><b><i>校正和放大</i></b></blockquote></p><p> <i>Fed Chair Jerome Powell may be forced to raise interest rates if inflation continues rising. An earlier version of this article said he could be forced to cut them.</i></p><p><blockquote><i>如果通胀继续上升，美联储主席鲍威尔可能被迫加息。这篇文章的早期版本说他可能会被迫削减它们。</i></blockquote></p><p></p>","source":"lsy1603348471595","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>The Stock Market Got Spooked Last Week. 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Here’s This Week’s Surprise.<blockquote>上周股市受到了惊吓。这是本周的惊喜。</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">MarketWatch</strong><span class=\"h-time small\">2021-04-26 17:30</span>\n</p>\n</h4>\n</header>\n<article>\n<p>When everything is going swimmingly, even a little bad news can go a long way. This past week the stock market got swung about by information everyone knew was coming.</p><p><blockquote>当一切进展顺利时，即使是一点点坏消息也会有很大帮助。过去一周，股市因每个人都知道即将到来的信息而波动。</blockquote></p><p> President Joe Biden made no secret of his plan to raise capital-gains taxes on the very wealthy. It was a campaign pledge, one that got enough attention for Goldman Sachs to release a note looking at thehistorical impact of previous increases on the stock market. (The answer: not very much.) Since then the possibility has been discussed, debated, andwritten about on Wall Streetand beyond.</p><p><blockquote>乔·拜登总统毫不掩饰他对非常富有的人提高资本利得税的计划。这是一项竞选承诺，引起了足够的关注，高盛发布了一份报告，研究了之前股市上涨的历史影响。（答案是：不是很多。）从那时起，华尔街内外就一直在讨论、辩论和撰写关于这种可能性的文章。</blockquote></p><p> And yet when news “broke” that the Biden administration was considering raising the top capital-gains tax rate on millionaires to 39.6%,the stock market suddenly declined, with theS&amp;P 500dropping 1.3% from its high of the day to its low in less than one hour.</p><p><blockquote>然而，当拜登政府考虑将百万富翁的最高资本利得税率提高至39.6%的消息“爆出”时，股市突然下跌，标准普尔500指数在不到一个小时的时间内从当日高点下跌1.3%至低点。</blockquote></p><p> The damage was transitory—the S&amp;P 500 closed the week off 0.1%, to 4180.17, while theDow Jones Industrial Averagefell 157.18 points, or 0.5%, to 34,043.49, and theNasdaq Compositedeclined 0.3%, to 14,016.81. But it does indicate that the market might be a little sensitive to small changes.</p><p><blockquote>这种损害是暂时的——标普500本周收盘下跌0.1%，至4180.17点，道琼斯工业平均指数下跌157.18点，即0.5%，至34,043.49点，纳斯达克综合指数下跌0.3%，至14,016.81点。但这确实表明市场可能对微小的变化有点敏感。</blockquote></p><p> “It was no surprise at all, but it still caused a reaction,” says Dave Donabedian, chief investment officer at CIBC Private Wealth Management. “When you’ve had a run like we’ve had, it’s hard to get upset about a pause.”</p><p><blockquote>CIBC私人财富管理公司首席投资官戴夫·多纳贝迪安(Dave Donabedian)表示：“这一点也不令人意外，但仍然引起了反应。”“当你像我们一样跑步时，很难因为暂停而感到不安。”</blockquote></p><p> It’s not just known bad news that’s causing stocks to fall—it’s known good news as well. It has been a solid earnings season so far, with 85% of companies that have reported topping analyst estimates, far higher than the long-term average of 65% and even the four-quarter average of 76%, according to historical earnings data from Refinitiv.</p><p><blockquote>导致股市下跌的不仅仅是已知的坏消息，还有已知的好消息。根据Refinitiv的历史盈利数据，迄今为止，这是一个稳健的财报季，85%的公司报告超出了分析师的预期，远高于65%的长期平均水平，甚至高于76%的四个季度平均水平。</blockquote></p><p> But as we’ve seen recently, just beating forecasts isn’t enough. Only about half of the companies reporting earnings beats through Wednesday saw their stocks move higher afterward, according to Wells Fargo Securities data. And some big, well-known companies suffered sizable drops following beats, includingNetflix(ticker: NFLX),which tumbled7.4% after reporting on Tuesday, andIntel(INTC), whichdropped 5.3%this past Friday.</p><p><blockquote>但正如我们最近所看到的，仅仅超出预期是不够的。富国银行证券的数据显示，截至周三公布盈利超出预期的公司中，只有约一半的股价随后上涨。一些大型知名公司在节拍后股价大幅下跌，其中包括Netflix（股票代码：NFLX），周二公布财报后下跌7.4%，英特尔(INTC)，上周五下跌5.3%。</blockquote></p><p> Don’t be surprised if earnings—or at least the expectations around earnings—become a bigger problem for the stock market. Earnings are expected to grow by 43% during the second quarter, 55% during the third, and 75% during the fourth, according to Ned Davis, senior investment strategist at Ned Davis Research. But the stock market has gained just 2.4% a year when expectations for profit growth have been 20% or higher. “By the time really good…or bad…earnings are reported…the good or bad news has been largely priced in,” he writes.</p><p><blockquote>如果盈利——或者至少是围绕盈利的预期——成为股市更大的问题，请不要感到惊讶。Ned Davis Research高级投资策略师Ned Davis表示，预计第二季度盈利将增长43%，第三季度增长55%，第四季度增长75%。但当利润增长预期为20%或更高时，股市每年仅上涨2.4%。“当真正好的……或坏的……收益被报告时……好消息或坏消息已经在很大程度上被消化了，”他写道。</blockquote></p><p> If even this has the ability to knock stocks down, what about a real surprise? No one expects one from the Federal Reserve when itreleases its monetary policy statementthis coming Wednesday, and Chairman Jerome Powell will likely stick to the story that inflation is transitory and he won’t have to raise interest rates for a long, long time.</p><p><blockquote>如果连这都有能力压低股票，那么真正的惊喜呢？没有人预计美联储在本周三发布货币政策声明时会做出这样的声明，主席杰罗姆·鲍威尔可能会坚持通胀是暂时的，他在很长很长一段时间内都不必加息的说法。</blockquote></p><p> Still, that’s going to get harder. Economic data continue to get better—jobless claims fell to another postpandemic low in the most recent report—and the Fed will have to show that it recognizes that growth, while still having a reason to take things slow. The fact that the Bank of Canada said it would buy fewer bonds and Russia raised interest rates will only make that harder. “The Fed won’t change monetary policy at next week’s meeting, but with the economy reopening, jobs returning, activity booming, and inflation climbing, a sense of anticipation is starting to build,” writes James Knightley, ING’s chief international economist.</p><p><blockquote>尽管如此，这将变得更加困难。经济数据继续好转——在最近的报告中，初请失业金人数降至大流行后的另一个低点——美联储必须表明它认识到这种增长，同时仍有理由放慢速度。加拿大央行表示将减少购买债券以及俄罗斯加息的事实只会让这变得更加困难。ING首席国际经济学家詹姆斯·奈特利(James Knightley)写道：“美联储不会在下周的会议上改变货币政策，但随着经济重新开放、就业回归、经济活动蓬勃发展和通胀攀升，预期感开始增强。”</blockquote></p><p> Let’s hope it doesn’t turn to trepidation.</p><p><blockquote>让我们希望它不会变成恐惧。</blockquote></p><p> <b><i>Corrections &amp; Amplifications</i></b></p><p><blockquote><b><i>校正和放大</i></b></blockquote></p><p> <i>Fed Chair Jerome Powell may be forced to raise interest rates if inflation continues rising. An earlier version of this article said he could be forced to cut them.</i></p><p><blockquote><i>如果通胀继续上升，美联储主席鲍威尔可能被迫加息。这篇文章的早期版本说他可能会被迫削减它们。</i></blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.marketwatch.com/articles/why-did-the-dow-drop-this-week-it-got-spooked-by-old-news-51619221366?mod=markets\">MarketWatch</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\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"},"source_url":"https://www.marketwatch.com/articles/why-did-the-dow-drop-this-week-it-got-spooked-by-old-news-51619221366?mod=markets","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1197595754","content_text":"When everything is going swimmingly, even a little bad news can go a long way. This past week the stock market got swung about by information everyone knew was coming.\nPresident Joe Biden made no secret of his plan to raise capital-gains taxes on the very wealthy. It was a campaign pledge, one that got enough attention for Goldman Sachs to release a note looking at thehistorical impact of previous increases on the stock market. (The answer: not very much.) Since then the possibility has been discussed, debated, andwritten about on Wall Streetand beyond.\nAnd yet when news “broke” that the Biden administration was considering raising the top capital-gains tax rate on millionaires to 39.6%,the stock market suddenly declined, with theS&P 500dropping 1.3% from its high of the day to its low in less than one hour.\nThe damage was transitory—the S&P 500 closed the week off 0.1%, to 4180.17, while theDow Jones Industrial Averagefell 157.18 points, or 0.5%, to 34,043.49, and theNasdaq Compositedeclined 0.3%, to 14,016.81. But it does indicate that the market might be a little sensitive to small changes.\n“It was no surprise at all, but it still caused a reaction,” says Dave Donabedian, chief investment officer at CIBC Private Wealth Management. “When you’ve had a run like we’ve had, it’s hard to get upset about a pause.”\nIt’s not just known bad news that’s causing stocks to fall—it’s known good news as well. It has been a solid earnings season so far, with 85% of companies that have reported topping analyst estimates, far higher than the long-term average of 65% and even the four-quarter average of 76%, according to historical earnings data from Refinitiv.\nBut as we’ve seen recently, just beating forecasts isn’t enough. Only about half of the companies reporting earnings beats through Wednesday saw their stocks move higher afterward, according to Wells Fargo Securities data. And some big, well-known companies suffered sizable drops following beats, includingNetflix(ticker: NFLX),which tumbled7.4% after reporting on Tuesday, andIntel(INTC), whichdropped 5.3%this past Friday.\nDon’t be surprised if earnings—or at least the expectations around earnings—become a bigger problem for the stock market. Earnings are expected to grow by 43% during the second quarter, 55% during the third, and 75% during the fourth, according to Ned Davis, senior investment strategist at Ned Davis Research. But the stock market has gained just 2.4% a year when expectations for profit growth have been 20% or higher. “By the time really good…or bad…earnings are reported…the good or bad news has been largely priced in,” he writes.\nIf even this has the ability to knock stocks down, what about a real surprise? No one expects one from the Federal Reserve when itreleases its monetary policy statementthis coming Wednesday, and Chairman Jerome Powell will likely stick to the story that inflation is transitory and he won’t have to raise interest rates for a long, long time.\nStill, that’s going to get harder. Economic data continue to get better—jobless claims fell to another postpandemic low in the most recent report—and the Fed will have to show that it recognizes that growth, while still having a reason to take things slow. The fact that the Bank of Canada said it would buy fewer bonds and Russia raised interest rates will only make that harder. “The Fed won’t change monetary policy at next week’s meeting, but with the economy reopening, jobs returning, activity booming, and inflation climbing, a sense of anticipation is starting to build,” writes James Knightley, ING’s chief international economist.\nLet’s hope it doesn’t turn to trepidation.\nCorrections & Amplifications\nFed Chair Jerome Powell may be forced to raise interest rates if inflation continues rising. An earlier version of this article said he could be forced to cut them.","news_type":1,"symbols_score_info":{".IXIC":0.9,".SPX":0.9,".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":1540,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":370539953,"gmtCreate":1618598168172,"gmtModify":1634291847026,"author":{"id":"3577789662436983","authorId":"3577789662436983","name":"Nasha","avatar":"https://static.tigerbbs.com/423308c1e8626e4d409b32e0692201ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577789662436983","authorIdStr":"3577789662436983"},"themes":[],"htmlText":"Please like &amp; share [开心]&nbsp;","listText":"Please like &amp; share [开心]&nbsp;","text":"Please like & share [开心]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/370539953","repostId":"1156411249","repostType":4,"isVote":1,"tweetType":1,"viewCount":2184,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":370273498,"gmtCreate":1618591579814,"gmtModify":1634291864084,"author":{"id":"3577789662436983","authorId":"3577789662436983","name":"Nasha","avatar":"https://static.tigerbbs.com/423308c1e8626e4d409b32e0692201ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577789662436983","authorIdStr":"3577789662436983"},"themes":[],"htmlText":"Please help to comment &amp; like [爱你]&nbsp;","listText":"Please help to comment &amp; like [爱你]&nbsp;","text":"Please help to comment & like [爱你]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/370273498","repostId":"1175692875","repostType":4,"repost":{"id":"1175692875","kind":"news","pubTimestamp":1618582708,"share":"https://www.laohu8.com/m/news/1175692875?lang=zh_CN&edition=full","pubTime":"2021-04-16 22:18","market":"us","language":"en","title":"$544 Billion In Options Expire Today: Here's What Will Move<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>","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><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></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><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></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><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></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><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></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><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></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><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></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><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></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><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>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>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><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></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<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote></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: 12.5px; color: #7E829C; margin: 0;}\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<blockquote>5440亿美元期权今天到期：以下是将发生的变化</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">zerohedge</strong><span class=\"h-time small\">2021-04-16 22:18</span>\n</p>\n</h4>\n</header>\n<article>\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 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><blockquote>虽然这不是四（甚至三）巫术日，但今天的大量每周期权将到期，其中可能一文不值，其他期权将为基础价格提供支持“引脚”。这就是为什么，尽管我们正在享受一个美丽的春季周，高盛指出，单一股票期权交易活动相对于历史水平有所上升。也就是说，4月份每日期权交易量增长了70%，高于3月30日年初至今24亿美元的低点。</blockquote></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><blockquote><b>总体而言，单个股票中有5440亿美元的期权将于今天到期，其中包括3050亿美元的评级。</b>因此，今天的到期对于平值（ATM）期权持有大量未平仓合约的股票可能很重要，因为做市商对其异常大的期权投资组合进行delta对冲将会很活跃。这种流动可能会抑制某些股票的波动，同时加剧其他股票的股价波动。</blockquote></p><p>How to trade this?</p><p><blockquote>这个怎么交易？</blockquote></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><blockquote>正如高盛的维沙尔·维韦克（Vishal Vivek）所写，在重大到期时，期权交易者会跟踪以下情况：<b>大量未平仓合约即将到期。</b>在平价执行（执行价格等于或非常接近当前股价）中存在大量到期未平仓合约的情况下，delta对冲活动可能会影响标的股票当天的交易。如果做市商或其他对其头寸进行delta对冲的期权交易者是净多头ATM期权，则与到期相关的流量可能会产生抑制股价走势的效果，导致股价以大量未平仓合约在行权附近结算。这种情况通常被称为“pin”，对于试图进入/退出股票头寸的大型投资者来说是理想的情况。或者，如果delta对冲者是ATM期权的净空头（具有“负伽马”头寸），他们的对冲活动可能会加剧股价波动。</blockquote></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><blockquote>这意味着与到期相关的交易可能会导致具有大量ATM未平仓合约的股票的交易活动大幅回升。</blockquote></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><blockquote>因此，为了帮助寻求日内交易机会的交易者，这里有一个表格，列出了今天到期的ATM未平仓合约较大的可能焦点股票，并与标的股票的日均交易量进行了比较。正如高盛所说，“<i>如果未平仓合约占股票交易量的很大一部分，那么与到期相关的活动可能会产生更大的影响。”</i></blockquote></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><blockquote>最后，值得一提的是，今天早上我们在SpotGamma的朋友写道，这是一个相当奇怪的运营支出周期，“持续的几乎机械的出价推动市场走高。我们以前从未见过看涨期权墙“突破”过很多次，但我们在之前的笔记中提到过其他异常现象，例如净看跌期权销售。我们对此有一些理论，我们将在一篇更长的文章中发布。”</blockquote></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><blockquote>根据SG的说法，由于隐含波动率现在已经压缩（即VIX处于新低），现在“长期”波动的潜力更大。回想一下最近市场的任何剧烈下跌都是如何被如此迅速地买入的（见下图）。<b>这些大幅走低与创纪录的VIX飙升同时发生，但随着VIX（即隐含波动率）的逆转，反射性的snap回调将带来同等力度的市场复苏。</b></blockquote></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><p><blockquote>SpotGamma的另一个奇怪观察：</blockquote></p><p>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>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><p><blockquote>当隐含波动率非常高时，它对市场走势非常敏感，也表明市场预计未来会有更大的波动。一旦市场暂停或抓住支撑位，隐含波动率就会迅速反转走低。<b>我们经常想到这样一个类比，如果鲨鱼停止游泳，它就会下沉（部分正确！）.如果市场停止下跌，那么隐含波动率就会下降。</b>正如我们经常谈论的那样，较低的隐含波动率（即较低的VIX）表明做市商必须回购空头对冲，从而推动反弹。SG的结论是：目前较低的隐含波动率水平给了市场更多的下行火力。从较低的隐含波动率开始会“减缓”反应性的“snap回”购买机制。此外，当IV较低时，伽马较高，因此伽马翻转可能有更多的果汁。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<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\">zerohedge</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"SPY":"标普500ETF",".DJI":"道琼斯",".SPX":"S&P 500 Index",".IXIC":"NASDAQ Composite"},"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,"symbols_score_info":{"SPY":0.9,".DJI":0.9,".SPX":0.9,".IXIC":0.9}},"isVote":1,"tweetType":1,"viewCount":1813,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0},{"id":359383145,"gmtCreate":1616343528487,"gmtModify":1634526286552,"author":{"id":"3577789662436983","authorId":"3577789662436983","name":"Nasha","avatar":"https://static.tigerbbs.com/423308c1e8626e4d409b32e0692201ba","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3577789662436983","authorIdStr":"3577789662436983"},"themes":[],"htmlText":"[得意]&nbsp;","listText":"[得意]&nbsp;","text":"[得意]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359383145","repostId":"1136440314","repostType":4,"isVote":1,"tweetType":1,"viewCount":2935,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"CN","totalScore":0}],"defaultTab":"followers","isTTM":false}