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Total notional value refers to the to the combined value of all the underlying assets that a set of options contracts controls. Some estimates put it as high as $6.6 TRILLION today. Most of these options will expire worthless, but tons of volatility should be expected. Even if you assume the total value is $5.5 trillion, there has NEVER been a day that was remotely close. Here’s a breakdown of all previous days with elevated notional value expiration dates. Last December, we saw ~$4.8 trillion of options expiring which was a record at the time. However, at that time the aggregate capitalization of the US market stood at $48 trillion. Today is also a “triple witching day” which means options linked to stocks will expire alongside major stock index futures contracts. As seen below, triple witching days over the last 10 years have generally seen negative returns. More reason to expect heightened volatility. It has since climbed to $59 trillion and is now DOUBLE the size of US GDP. Meanwhile, the Volatility Index, $VIX, is already up nearly 100% this week. We also have PCE inflation data coming this morning just days after the Fed shifted hawkish. Rate cuts are being priced out and markets are nearing correction territory for the first time in months. According to SpotGamma, calls HEAVILY outweighed puts heading into today. On December 18th, the call to put ratio was 10 to 1. While it has dropped due to this week’s market decline, calls still significantly outweigh puts. Will bulls be able to hold support today? submitted by /u/XGramatik |
Historic moment for Telegram Pavel Durov confirmed that the company has become profitable: revenues have exceeded $1 billion, and reserves on accounts will amount to more than $500 million by the end of the year. All this is without taking into account TON.
Historic moment for Telegram Pavel Durov confirmed that the company has become profitable: revenues have exceeded $1 billion, and reserves