Option Montage: End of the month positioning today

期權蒙太奇：今日月底定位

Moomoo News · 2021/04/30 09:00 · 獨家

By Eli, Jimmy

作者：伊萊，吉米

This week with a super dovish Fed plus incredible earnings were mostly already factored into prices. Most of the decent moves in select names have been over those earnings and you would've needed to take that added risk and juiced-up Implied volatility to benefit.

本週，隨着超級鴿派的美聯儲，加上令人難以置信的收益，大部分已經被計入了價格。在精選的名字中，大多數像樣的波動都是在這些收益之上，你需要承擔額外的風險，並放大隱含波動率才能受益。

Full positioning, yet a lot of index hedging has created an environment where higher gaps will find sellers and any downside momentum will likely be difficult to sustain. But there still is that added risk of those "orderly" pullbacks based on overbought conditions.

全面定位，然而，許多指數對衝創造了一種環境，在這種環境中，更高的差距將找到賣家，任何下行勢頭可能都將難以維持。但這種基於超買狀態的“有序”回調風險依然存在。

As we punch through next week after a big week of earnings in the books, we will start to see order flow clear up and make some sense again. Hopefully, as it leads to less hedging out there, we can get a read on how institutional sweepers may be positioning into what is known to be a poor seasonal period(Sell in May and Go away?)

在經歷了一週的盈利之後，隨着下週的打卡，我們將開始看到訂單流變得清晰起來，並再次變得有意義。希望隨着這導致對衝減少，我們可以讀到機構清掃者可能正在如何定位於已知的季節性不佳時期(在5月份賣出，然後離開？)

End of the month positioning and a Friday expiration today, so price action can continue to be a little volatile. We likely see a little selling off the open that can hopefully free up a few tactical intraday opportunities to take advantage of.

月底頭寸和今天週五到期，因此價格走勢可能會繼續略有波動。我們可能會看到一些公開拋售，希望能騰出一些戰術盤中機會來利用。