什么信号？为了对冲下行风险，美股空头头寸创三年新高

华尔街见闻2021-07-16

近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：一切或许正如...

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Comments

eeth
2021-07-17
eeth
??
haiwei183
2021-07-17
haiwei183
看空要到了
Youn7276
2021-07-17
Youn7276
閱！
Derick 哈哈哈哈
2021-07-17
Derick 哈哈哈哈
哈哈哈哈哈
- Derick 哈哈哈哈:
  哈哈哈哈哈
x无牙仔x
2021-07-16
x无牙仔x
like
- hhyw:
  好
雨后就是彩虹
2021-07-16
雨后就是彩虹
贊
- 雨后就是彩虹:
  666

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In order to hedge downside risks, short positions in US stocks hit a three-year high","themeId":null,"isJumpTheme":false,"ttsUrl":"https://static.tigerbbs.com/e3f48ce45a2cab6f7d5efc1dad62a036","symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9},"content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1,"need_auth":false,"code":"91000000","status":"200"},"commentList":[{"id":179636965,"gmtCreate":1626514463657,"gmtModify":1703761358061,"author":{"id":"3585632669728370","authorId":"3585632669728370","name":"eeth","avatar":"https://static.tigerbbs.com/735082c961a6f88b2636be009adbfc68","vip":1,"crmLevel":12,"crmLevelSwitch":1,"idStr":"3585632669728370","authorIdStr":"3585632669728370"},"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179636965","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":179078603,"gmtCreate":1626478898002,"gmtModify":1703760749458,"author":{"id":"3572683426659077","authorId":"3572683426659077","name":"haiwei183","avatar":"https://static.tigerbbs.com/1cae291bddff5a30eeb96060074d8531","vip":1,"crmLevel":12,"crmLevelSwitch":0,"idStr":"3572683426659077","authorIdStr":"3572683426659077"},"htmlText":"看空要到了","listText":"看空要到了","text":"看空要到了","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179078603","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":179033148,"gmtCreate":1626470525784,"gmtModify":1703760645136,"author":{"id":"3577393549070429","authorId":"3577393549070429","name":"Youn7276","avatar":"https://static.tigerbbs.com/487c5c26a5e210d6b88adaeaba12329b","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3577393549070429","authorIdStr":"3577393549070429"},"htmlText":"閱！","listText":"閱！","text":"閱！","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/179033148","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":170779107,"gmtCreate":1626457377609,"gmtModify":1703760602920,"author":{"id":"3564013861347254","authorId":"3564013861347254","name":"Derick 哈哈哈哈","avatar":"https://static.tigerbbs.com/4e89244b0a4140129e833375b5b2471e","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3564013861347254","authorIdStr":"3564013861347254"},"htmlText":"哈哈哈哈哈","listText":"哈哈哈哈哈","text":"哈哈哈哈哈","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170779107","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5242779,"gmtCreate":1626457386145,"gmtModify":1663231074026,"authorId":3564013861347254,"author":{"id":3564013861347254,"idStr":"3564013861347254","authorId":3564013861347254,"name":"Derick 哈哈哈哈","avatar":"https://static.tigerbbs.com/4e89244b0a4140129e833375b5b2471e","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170779107,"type":1,"supId":0,"prevId":0,"content":"哈哈哈哈哈","text":"哈哈哈哈哈","html":"哈哈哈哈哈"}],"langContent":"CN"},{"id":170789201,"gmtCreate":1626451187003,"gmtModify":1703760531035,"author":{"id":"3582937976166267","authorId":"3582937976166267","name":"x无牙仔x","avatar":"https://static.tigerbbs.com/383820dbf1a6648019f4c09bca24fd81","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"3582937976166267","authorIdStr":"3582937976166267"},"htmlText":"like","listText":"like","text":"like","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170789201","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5243664,"gmtCreate":1626477179673,"gmtModify":1663231077334,"authorId":3561544476596136,"author":{"id":3561544476596136,"idStr":"3561544476596136","authorId":3561544476596136,"name":"hhyw","avatar":"https://static.tigerbbs.com/62f8a12108672917c80685184f331b6f","vip":1,"currentWearingBadge":{"badgeId":"972123088c9646f7b6091ae0662215be-3","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Legendary Trader","description":"Total number of securities or futures transactions reached 300","bigImgUrl":"https://static.tigerbbs.com/656db16598a0b8f21429e10d6c1cb033","smallImgUrl":"https://static.tigerbbs.com/03f10910d4dd9234f9b5702a3342193a","grayImgUrl":"https://static.tigerbbs.com/0c767e35268feb729d50d3fa9a386c5a","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":"93.48%","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":12,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170789201,"type":1,"supId":0,"prevId":0,"content":"好","text":"好","html":"好"}],"langContent":"EN"},{"id":170483342,"gmtCreate":1626445748486,"gmtModify":1703760393063,"author":{"id":"4087263755014960","authorId":"4087263755014960","name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"idStr":"4087263755014960","authorIdStr":"4087263755014960"},"htmlText":"贊","listText":"贊","text":"贊","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/170483342","repostId":2151742215,"repostType":4,"repost":{"id":"2151742215","kind":"highlight","pubTimestamp":1626409222,"share":"https://ttm.financial/m/news/2151742215?lang=en_US&edition=fundamental","pubTime":"2021-07-16 12:20","market":"us","language":"zh","title":"What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks","url":"https://stock-news.laohu8.com/highlight/detail?id=2151742215","media":"华尔街见闻","summary":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含","content":"<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>","source":"wallstreetcn_api","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>What signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWhat signal? Short positions in U.S. stocks hit three-year highs to hedge downside risks\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2021-07-16 12:20</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Recently, the U.S. stock market has fluctuated occasionally, and small-cap stocks have been hit, but the overall market is still at a high level.</p><p>However, against this backdrop, options traders have been desperately buying put options to hedge against downside risks.</p><p><img src=\"https://static.tigerbbs.com/42cb53a9d7aa49929f04ddb04a085483\" tg-width=\"944\" tg-height=\"558\" referrerpolicy=\"no-referrer\"></p><p>Thus,<b>The implied volatility of the S&P 500 3-month forward put option relative to the call contract for the same period reached its highest level since 2018.</b></p><p><img src=\"https://static.tigerbbs.com/e3ee2406fca907d778041bc08b83881e\" tg-width=\"965\" tg-height=\"531\" referrerpolicy=\"no-referrer\"></p><p>In short, while U.S. stocks are still rising, investor anxiety is also rising.</p><p>In this regard,<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>Hong Hao, chief strategist and head of research department, also made a teasing voice:</p><p><img src=\"https://static.tigerbbs.com/fa86ec6023dcb78ae4972c4df4e0da5b\" tg-width=\"533\" tg-height=\"626\" referrerpolicy=\"no-referrer\"></p><p>Everything may be as Susquehanna International Group analyst Chris Murphy pointed out in the research report,<b>The point of concern is that if market sentiment deteriorates, the correlation between stocks that have recently hit new lows will rise sharply, which will cause stock prices to fall in tandem.</b></p><p>The correlation is still low, but if things change, all factors will start to move together, volatility could rise rapidly, and the S&P 500 could go down. The market has priced in the impact of the increasing correlation. Currently, this implied correlation has begun to recover from levels near historic lows:</p><p><img src=\"https://static.tigerbbs.com/324b173aa36ad5c8e237264958a5303a\" tg-width=\"965\" tg-height=\"528\" referrerpolicy=\"no-referrer\"></p><p>At the same time,<b>In recent months, the positive correlation between U.S. bond yields and U.S. stocks has been significantly decoupled, which means that U.S. bond investors have stopped buying. This may be another big warning signal for the U.S. stock market.</b></p><p><img src=\"https://static.tigerbbs.com/6079a1f76f24396152b675605d5f3c75\" tg-width=\"965\" tg-height=\"534\" referrerpolicy=\"no-referrer\"></p><p>In this regard, the financial blog ZeroHedge can't help but ask: Considering that Federal Reserve Chairman Powell has now admitted that the Federal Reserve is discussing how to reduce the scale of bond purchases, have options traders and bond traders realized in advance that the U.S. stock market is about to go wrong?</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3635582\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/ab1815ec48bd4c5f20d5928cc3337253","relate_stocks":{"161125":"标普500","513500":"标普500ETF","SQQQ":"纳指三倍做空ETF",".DJI":"道琼斯","UDOW":"三倍做多道指30ETF-ProShares","IVV":"标普500ETF-iShares","DXD":"两倍做空道琼30指数ETF-ProShares","SH":"做空标普500-Proshares","UPRO":"三倍做多标普500ETF-ProShares","SPXU":"三倍做空标普500ETF-ProShares","QLD":"2倍做多纳斯达克100指数ETF-ProShares","DDM":"2倍做多道指ETF-ProShares","SSO":"2倍做多标普500ETF-ProShares",".SPX":"S&P 500 Index","DOG":"道指ETF-ProShares做空","SDOW":"三倍做空道指30ETF-ProShares","OEF":"标普100指数ETF-iShares","SPY":"标普500ETF","DJX":"1/100道琼斯","TQQQ":"纳指三倍做多ETF","QID":"两倍做空纳斯达克指数ETF-ProShares","OEX":"标普100","SDS":"两倍做空标普500 ETF-ProShares","PSQ":"做空纳斯达克100指数ETF-ProShares","QQQ":"纳指100ETF"},"source_url":"https://wallstreetcn.com/articles/3635582","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2151742215","content_text":"近来，美股偶有震荡，小盘股遭受冲击，但大盘整体仍在高位。\n然而，在这样的背景下，期权交易员一直在拼命买进用以对冲下行风险的看跌期权。\n\n由此，标普500指数3个月远期看跌期权相对于同期的看涨合约的隐含波动率，达到了2018年以来的最高水平。\n\n简而言之，尽管美股还在上涨，但投资者的焦虑情绪也正在上升。\n对此，交银国际首席策略师兼研究部主管洪灏也发出了调侃的声音：\n\n一切或许正如Susquehanna International Group分析师Chris Murphy在研报中指出的那样，令人担忧的一点在于，如果市场情绪恶化，近期触及新低的股票之间的相关性将大幅上升，这将导致股价同步下跌。\n\n 相关性目前还很低，但如果情况发生变化，所有因素就将开始共同移动，波动性可能迅速上升，而标普500指数可能下行。市场已经消化了相关性日益增强的影响。\n\n目前，这一隐含相关性已经开始从接近历史低点的水平回升：\n\n与此同时，近几个月来美债收益率与美股的正相关性已显著脱钩，也就是说美债投资者也已经不买了，这或许是针对美股市场所发出的另一大预警信号。\n\n对此，金融博客ZeroHedge不禁提问：考虑到如今美联储主席鲍威尔已经承认美联储正在讨论如何缩减购债规模相关事宜，那么期权交易员和债券交易员是否已经提前意识到美股即将出问题了呢？","news_type":1,"symbols_score_info":{"161125":0.9,"513500":0.9,"SPXU":0.9,"MNQmain":0.9,"SH":0.9,"DJX":0.9,"SDOW":0.9,"QID":0.9,"OEF":0.9,"IVV":0.9,"SQQQ":0.9,"SPY":0.9,"ESmain":0.9,"SDS":0.9,"TQQQ":0.9,".DJI":0.9,"DXD":0.9,"OEX":0.9,"SSO":0.9,"UDOW":0.9,".SPX":0.9,"NQmain":0.9,"DOG":0.9,"UPRO":0.9,"QQQ":0.9,"QLD":0.9,"PSQ":0.9,"DDM":0.9}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5241047,"gmtCreate":1626445758643,"gmtModify":1663231067052,"authorId":4087263755014960,"author":{"id":4087263755014960,"idStr":"4087263755014960","authorId":4087263755014960,"name":"雨后就是彩虹","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170483342,"type":1,"supId":0,"prevId":0,"content":"666","text":"666","html":"666"}],"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":116,"commentSize":23,"repostSize":0,"favoriteSize":3,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2151742215","isCrawlerRequest":true}