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Search resuls for: "Christopher Jacobson"


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NEW YORK, June 16 (Reuters) - Fear of missing out on the recent stock market rally is driving traders in the U.S. equity options market to lap up bullish derivative contracts at a hectic pace, further fueling gains for stocks, analysts said on Friday. On Thursday, a record 1.8 million S&P 500 calls traded. The rush into call options lifted the S&P 500 Index's 1-month moving average of calls-to-puts to the highest in at least 4 years, according to Trade Alert data. Some of the rush into call options has also helped fuel the rally, said Brent Kochuba, founder of options analytic service SpotGamma. "The trend is probably higher... but in the very short term we have gotten over our skies," Kochuba said.
Persons: Russell, Christopher Jacobson, Brent Kochuba, Kochuba, Saqib Iqbal Ahmed, Ira Iosebashvili, Nick Zieminski Organizations: YORK, Thomson Locations: U.S, Susquehanna
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermidNEW YORK, May 10 (Reuters) - Options market demand for insurance against a stock market crash has soared to multi-month highs, even as equities have calmed down after a choppy start to the year. U.S. stock market volatility has subsided as the S&P 500 (.SPX) has logged a 7% year-to-date gain. Though stock market gyrations have subsided in recent weeks from levels hit during the regional banks crisis, investors see plenty of catalysts for volatility ahead. Institutional investors' stock exposure has inched higher after slumping in 2022 to a decade low, excluding the COVID-19 market crash of March 2020, Deutsche Bank data showed.
[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermidNEW YORK, May 10 (Reuters) - Options market demand for insurance against a stock market crash has soared to multi-month highs, even as equities have calmed down after a choppy start to the year. U.S. stock market volatility has subsided as the S&P 500 (.SPX) has logged a 7% year-to-date gain. Though stock market gyrations have subsided in recent weeks from levels hit during the regional banks crisis, investors see plenty of catalysts for volatility ahead. Institutional investors' stock exposure has inched higher after slumping in 2022 to a decade low, excluding the COVID-19 market crash of March 2020, Deutsche Bank data showed.
The index is down about 3% since Tuesday's close and is down around 22% so far in 2022. On Thursday afternoon, with the S&P 500 index-tracking SPDR S&P 500 ETF Trust's (SPY.P) shares down 0.6% to $372.56, the most heavily traded SPY contracts were those that would guard against the ETF's shares slipping below $370 by Friday. SPY puts expiring at the end of next week, struck at the $350 mark, just above the ETF's mid-October intra-day low of $348.11, were the fourth most actively traded SPY options on Thursday. "Recent 'Fed meeting volatility' has not necessarily been confined to the Fed day itself," Christopher Jacobson, a strategist at Susquehanna Financial Group, said in a note. "Over the six prior Fed meetings year-to-date, the SPY has seen an average move of +/- 2.8% from the close on Wednesday (Fed day) to Friday's close," he said.
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