Newsletters

What Sept. 21 Revealed About Gamma

The options market does not predict the weekend’s headlines, but it does help determine how forcefully the market absorbs them. The weekend of Sept. 19-20 handed investors every excuse to stay in bed. The Fed had just raised rates for the first time in three years, Iran and the United States were trading threats and […]… Read More

Nobody Told the Data Centers

On Monday, Sept. 14, Intel (NASDAQ: INTC) fell 7%, Advanced Micro Devices (NASDAQ: AMD) fell 6%, Marvell Technology (NASDAQ: MRVL) fell 7%, Micron Technology (NASDAQ: MU) fell 4.7%, Broadcom (NASDAQ: AVGO) fell 4.4% and Nvidia (NASDAQ: NVDA) fell 3%. The cause was a weekend in which three artificial intelligence (AI) chief executives agreed that their […]… Read More

17 Million Barrels or Five Ships?

Something strange is happening in the Strait of Hormuz, and the numbers don’t quite add up. On Monday, Aug. 31, U.S. Energy Secretary Chris Wright said more than 17 million barrels of crude passed through the Strait of Hormuz — the highest daily volume since the Iran war began. Even though that sounds reassuring, it […]… Read More