A lot of vol melting off today in the market. Just a slow VIX crush and market ramp after all of the events this week. Tomorrow we should have a better idea of how the market is moving if things level out.
As it stands, most of the inflation data came in high, and expectations of rate cuts are getting pushed back, but so far no reversal in stance from fed members.
I tried a puts trade on KRE this morning but after it soaked I stopped out and didn’t do a whole lot. I like to pick my spots with trades and if the market isn’t making it clear or easy for me then I tend to just watch and wait.
I’ll keep IWM on watch for puts tomorrow in case we get a gap up and then reversal at some point.
I don’t have a ton on watch right now but tomorrow I think i’ll have a better read on the market once things settle and I can see trends forming vs just watching event hedges melt off and push things up.
Yields are staying elevated and if that stays up there should be some pressure in a few spots in the market.
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