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Grafer: Stormløb ind i aktie-putoptioner for beskyttelse

Morten W. Langer

onsdag 19. november 2025 kl. 7:45

Put love is back
Put call ratio exploding to the upside as the crowd never buys protection when they can, but when they must…
Tradingview
Tech spreads
IG tech spreads wider than the broad index for the first time since 2012…
Nomura
Buy extreme fear?
We are in deep extreme fear, but that red line looks rather elevated still…
MacroMicro
Never underestimate the power of MOVE
We’ve flagged rising bond volatility for weeks, and reminded that SPX hates when bond volatility spikes. Fast forward to today: equities finally caught up. You don’t need to trade bond volatility, but you do need to watch it like a hawk. Chart shows SPX vs. MOVE (inv).
LSEG Workspace
The big long
Systematics are running big longs.
GS
CTA cheat sheet
Downside convexity remains the main issue. Pivots are: Short term: 6728, Med term: 6447, Long term: 5995.
GS/TME
GS
Cash is trash
Investors are short on cash... cash levels of 3.7% or lower has occurred 20 times since 2002, and on every occasion stocks fell and Treasuries outperformed in the following 1-3 months.
BofA
Got cash?
Big tech needs it…
Nomura
Wanna see volatility?
You know things are extreme when the latest VIX spike is tiny in comparison… Chart shows KOSPI “VIX” vs. VIX. .
LSEG Workspace
Gold – you watching this?
Short term gap between Japanese long end and gold getting rather wide. Gold remains “heavy” given the extreme speculation we saw during the melt up earlier this autumn, but the move in rates is a positive for gold, ceteris paribus. .
LSEG Workspace
Is there a case…
…to use gold as a hedge instead of chasing VIX here?
LSEG Workspace

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