Inverted Mikey

@BenKizemchuk @VolSignals Understood, thanks

Its not so much about the level as the movement around the level. The jpm quarterly collar works like kryptonite in both directions. Repels from above and repels from below, if market is to fall below it. @VolSignals described it like inverse polarity on magnets which is right on. I highly encourage you to watch this video youtube.com/watch?v=QyNCg8…

Live shot of market approaching strike

@MARA @PolarityRadio

Today, MARA announced the repurchase of ~$1B in convertible notes at a ~9% discount to par value. ~30% convertible debt reduction. ~$88M in value captured. Zero future dilution exposure on the retired notes. Funded through BTC sales, not the ATM.

@PolarityRadio What’s a one day divergence between SPX and NDX that you’d consider significant? Today so far is one of the bigger divergences I can remember but I’m wondering if it’s actually noteworthy yet

Capital flight

@PolarityRadio When you said on spaces last night that you’re comfortable shorting SNDK volatility, do you expect vol to compress before it drags gamma down? Or in some situations can both go down simultaneously?

Sandisk has risen 81.26 times as much NVDA at 1 point starting in the past year. They face a great deal of challenges for the supply chain to meet their growth estimates. Not advice, but I’d be on the other side of that.

@jam_croissant @joemccann @PolarityRadio thoughts?

@joemccann Hmm 🤨 … clearly u haven’t been following along. Vol compression is the name of the game until Wednesday. Vanna Charm Flows are at their peak 🏔️ Monday morning into Wednesday of quarterly Opex’s.

Can someone get a locate on @jam_croissant?

@SecScottBessent @PolarityRadio

President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea. India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage.

@amital13 @PolarityRadio thoughts?

So... has the panic phase officially commenced?💥💥 VLCC freight rates from the Middle East Gulf to Japan are going parabolic👇, accompanied by a sharp surge in European LNG prices. The transmission mechanism is brutal: No energy inputs --> halted production --> frozen cash flows -->collateral scarcity --> funding market distress. -->Corporates are bound to aggressively draw down credit facilities , yet bank liquidity is already strained. This liquidity spiral poses a greater systemic risk than the 2020 Covid shock- fundamentally because the Fed is currently handcuffed. #repo #Liquidation

@GeorgeGammon George - would love if you did another interview on your YouTube channel with @PolarityRadio - revisiting his framework would be incredibly beneficial for your followers, and would help David expand his following. Win-win

Block firing 40% of workforce due to AI I think the question to ask isn’t how much will this benefit their bottom line But also, if done in mass, what does it do for aggregate demand in the economy?

@DeItaone @PolarityRadio

DALY: WE HAVE MORE WORK TO DO TO GET INFLATION DOWN, BUT DON'T WANT TO GET BEHIND, OR OVER OUR SKIS

@QAGELLC David, I was looking for the on-the-run mortgage on mortgage news daily but I couldn’t figure out where to view it - is it the UMBS 30yr 5.0?

@EddBolingbroke @levenson_david would you mind explaining this dynamic on spaces? Signal or noise?

Dollar swap spread widener has been a staple trade since the April blowout Cracks appearing now though and early signs of deleveraging underway. Balance sheet uncertainty and expected vol uptick playing into unwinds…

@levenson_david Can you explain your comment on joe Wiesenthal’s post about silver this morning? You said that since VXSLV peaked, it gives silver some time to keep going up - why wouldn’t silver chop around at the highs once VXSLV peaks? Thanks