The letter
Newsletters
Each issue explains what is moving markets and ends with the trades we are taking: structure, cost, target and what would make us wrong.
Flows, Not Fundamentals
Why Thursday's crash was mostly mechanical, what has to hold for the recovery to stick, and the option structures we are using to wait for fundamentals to reassert themselves.
- GLDGold: 390/405 call spread
- NVDANVIDIA: 190/200 call spread
- CMPSCompass Pathways: $10 calls