Pro Macro: Flash Update – May 2, 2023

Published on: May 2nd, 2023

Risk and opportunity.

Comments

  • WM
    William M.
    2 May 2023 @ 22:17
    0 0
    Worth a punt for 1% max to me. Good chance of at least breaking even.
    • RP
      Raoul P. | Founder
      2 May 2023 @ 22:37
      0 0
      Yeah, its a punt and a hedge.
  • RP
    Raoul P. | Founder
    2 May 2023 @ 22:39
    5 0
    If you do follow this trade try not to bid up the vol on the calls... take time to execute as its not super liquid.
  • TK
    Tahsin K.
    2 May 2023 @ 22:56
    0 0
    Where is the best place to buy eth calls? That's the hard part. I wonder if buying calls on Galaxy EtH ETF works in this case.
    • PC
      Peter C.
      5 May 2023 @ 16:19
      1 0
      You can enter the symbol EETHUSDRR in interactive brokers and find CME futures options
    • AN
      Alexander N.
      3 May 2023 @ 20:01
      0 0
      One option on-chain is via https://app.lyra.finance/ on the arbitrum network.
    • TK
      Tahsin K.
      3 May 2023 @ 14:16
      0 0
      Hoping someone else has a bright idea on how to buy ETH calls. Even the Galaxy ETF doesn't have enough volume on options change to make a bid. Deribit and LEdgerX not open to me :(
    • TK
      Tahsin K.
      3 May 2023 @ 00:17
      0 0
      Thanks for the response. Sadly, neither allowed in Canada :(
    • RP
      Raoul P. | Founder
      2 May 2023 @ 23:48
      0 0
      Deribit, Ledger X (I think it still is open)
  • DE
    Daniel E.
    3 May 2023 @ 00:04
    0 0
    I am not seeing the June 30th 2500 calls for ETH on Ledger X... where are other in the USA buying them?
    • RP
      Raoul P. | Founder
      3 May 2023 @ 11:13
      0 0
      I use Deribit
    • DE
      Daniel E.
      3 May 2023 @ 00:05
      0 0
      There is a 2000 and a 3000, but not the 2500.. FYI
  • KB
    Keith B.
    3 May 2023 @ 01:38
    0 0
    Would you take some off of the Nasdaq trade / do you expect it to maintain correlation with SPX to the downside?
    • RP
      Raoul P. | Founder
      3 May 2023 @ 11:12
      1 0
      This is a way to partially hedge NDX for the short term
  • JM
    John M.
    3 May 2023 @ 02:36
    1 0
    Why not just buy Vix calls?
  • VM
    Veliko M.
    3 May 2023 @ 03:46
    0 0
    @raoul, if we take a 1-2 year view, would you consider such a selloff in SPX / Nasdaq a good time for long-run accumulation, or would you wait for more weakness? I'm assuming the answer is "accumulate", given that you see a rise in liquidity shortly after.
    • RP
      Raoul P. | Founder
      3 May 2023 @ 11:12
      1 0
      I think any sell of is perfect accumulation time
    • VM
      Veliko M.
      3 May 2023 @ 03:50
      0 0
      And to be clear, by "waiting for weakness down the line" I mean the systemic type which takes correlations to one.
  • TH
    Tiziri H.
    5 May 2023 @ 14:27
    0 0
    hi all, would you know if buy XSP mini 385 puts (4USD) is equivalent to Buy June 30th SPX 3850?
    • MA
      Majed A.
      11 May 2023 @ 10:33
      1 0
      Go for $SPY 385
  • JM
    Jake M.
    8 May 2023 @ 10:27
    0 0
    can some one help explain why we saw treasury yield plummet in 2011 debt ceiling fear event? I know it's risk-off event, but in this case it's a fear of default on government debt. Should've seen yield spike, right?
  • YC
    Yi C.
    10 May 2023 @ 14:50
    0 0
    Hi Raoul, great piece as always! Would you be able to shed some light on how the GMI Financial Condition Index is constructed and what the components are? Also what does RHS really mean on your charts?