Comments
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JNDXY futures trading at 96.84. This trade lost about 25-30 percent of its value depending where you got into the call spread. But net/net a very successful structure to be long SPX call spread, long TY call spread, and long Dollar index call spread.
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JNTYA Trading at 123-29 so about 93 percent of the profit is captured on that part of the trade with one week to go. Time to close this leg of the trade as well and book profits. This leg of the trade is profitable so now there is only one leg left. The long DXY leg.
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JNES futures trading at 2841.50. Time to close that leg of this trade. MBS roll into treasuries will help 10 year part of this trade.
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NRJohn your proposed trade is long volatility through treasuries and the dollar, long fixed income through treasuries and long credit through stocks. All of those are the components of credit fixed income. You can simplify your structure and reduce cost by simply going long U.S corporate credit (LQD would do the trick). Basically what you are proposing is to be long credit fixed income at this stage (I agree). Happy to go over this with you privately. Cheers to you and Brian for another great interview.
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RSHi John: does DXY have options?
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JMOutstanding! Unfortunately I missed this, as I hardly watch the trade ideas (technical analysis, low quality). THIS was SMART! I immediately went to Amazon and will purchase both of John's books. Very thankful for RV for bringing him on. Fast talking, fast thinking, smart trading, starts with the risks to the trade, has a macro understanding: I like it all! Semper Fi Sir! One shot, one kill! HUAA!
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JNi have received requests for a free sample of The Global Macro Edge. Please send emails to info@theproteantrader.com
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JWBrian Price is a flawless interviewer !!
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BHWhat is the thesis for strong dollar given Fed might stop hiking?
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IDVery insightful and helpful in a way to think about trade structuring.
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NvInteresting. However, The Dollar has a lower yield than EU / Japan yields once a non-US investors hedges FX. The high hedging cost is due to relatively high US short rates.
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FGWhat is so new about this "synthetic" trade? I mean, it is classic portfolio theory, right?