This is too easy. Forget NFLX Calls. As Goldman explains, the road to real riches over the past 8 years (off the '666' lows in the S&P) is simple - Sell Vol!
The S&P 500 VIX Short-Term Futures Daily Inverse Index which tracks the return of being short a one-month VIX future was up 4364% from March 9, 2009 through 1Q 2017.
After yesterday's violent gap up in stocks across the globe in response to the "expected" outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up modestly.
The next two weeks in France...
According to the bookies, it's a done deal...
Stocks Up, Oil Down
So stocks soared... Trannies best on the day but Nasdaq hit a new record high, desperately trying to tag 6,000...
RIP BAT - the Border Adjustment Tax, which was floated in November under a proposal from Paul Ryan and which met with fierce resistance, is effectively dead. According to Bloomberg, Trump’s "tremendous" tax plan to be revealed next week likely won’t include the controversial border-adjusted tax.
In addition to Paul Tudor Jones making headlines overnight with his comments during a closed-door GSAM session, in which he warned that Yellen "should be terrified" by some of the market's key valuation metrics, he went so far as to predict what trading strategist would blow up the market and cause the next crash when volatility returns.
“Risk parity,” Jones told the Goldman audience, “will be the hammer on the downside.”