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Bond market went ballistic today after the 30yr auction at noon.

Treasury dumped $24B in bonds for as high as 1.940% vs the market rate trading 1.888% pre-auction. A tail of 5.2bps, the biggest tail ever for a 30yr bond auction.

Translation? Bond traders are telling the Fed to get bent if they expect the market to buy paper at these low yields.

The December FOMC meeting is now far more interesting, considering the Fed only committed to taper until its December meeting...

These ES Feb 3800p delta hedged vs ES 4605s (where Icahn hedged) that Icahn sold for $41.00 Friday are now worth $33.40.

A nice $7.6 million unrealized profit over the weekend for him... He's still short the puts though, has not closed yet.

Maybe @adam was onto something... Squeeze Metrics' DIX dark pool index does show the dark pools bought the dip Friday. Going to research more later.

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Headline: Goldman Slams Omicron Panic: "This Mutation Is Unlikely To Be More Malicious; No Reason For Portfolio Changes"

I tend to agree, that this *shouldn't* amount to much, but one can't discount the possibility that they are just saying that to facilitate their own unloading.

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Could the Omicron variant be the excuse The Fed needs to pause tapering and avoid hiking until after November 2022?

Omicron variant? Wonder what Carlin would have to say about that...

There are a handful of known customers that trade large size in the ES options market, one of those players is Carl Icahn. His strategy: sell puts when the market is selling off. A bullish trade.

It's a simple yet effective strategy that capitalizes on inflated options prices during times of high volatility.

On Friday, Icahn sold ES February expiry 3800 strike puts 10k times for $41, collecting $41 million. If by February the S&P closes above 3800, Icahn will realize the $41 million profit.

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A followup on this one: when the VIX speaks, you listen. VIX signalling wins again.

Today's move was exacerbated by the total lack of liquidity in the options markets. One of our competitors completely pulled from the market in the last 30 minutes of trading because it was so bad.

Great day for vol-sellers though, I still salivate over a >25 VIX. (High VIX means options premium across all strikes goes up, so sellers can collect more premium and thereby increase potential profit).

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This year the Black Friday sales extended to the S&P and WTI Crude! Scoop 'em while you can...

What a move. 30 yr bonds exploding higher, my shorts there aren't feeling too hot right now.

Stay safe today. Half day for the markets today, markets close at 1:00PM EST.

Thankful for NA Social and the community.

I hope all of you are practicing civil disobedience by gathering with your family and friends this year.

Crazy that in America now socializing on holidays is considered disobedience.

Let's go Brandon!

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Disclaimer: I'm not calling a crash or any nonsense like that. In fact, it's quite likely we continue to rip higher given Powell is back in the hot-seat and inflation is still warming up. Just pay attention to VIX, us options traders can't stop looking at it.

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Let's talk VIX.

The VIX index measures the 30-day implied volatility of the S&P 500. Simply, VIX is a bellwether for potential price volatility. As the VIX index rises, potential price volatility rises.

Who cares? Well predicting crashes is a losing game, but monitoring the VIX as a gauge for market uncertainty works well. VIX is on the rise again, which helps explain today's violent move down (among other reasons).

Could be a choppy ride until 2022. Tread lightly.

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Finally ordered a Ziverdo kit from Sketchy ordering process like Adam and others on here have pointed out but otherwise pretty easy.

Here's to hoping it doesn't get seized at customs. Pretty pathetic that I have to rely on a foreign country for proper medical treatment here in the mighty USA.

Don't have the coof, just preparing in case I get it.

Finally a win for the 2nd amendment and our right to self-defense against those who mean us harm.

Fuck the tyrants. Fight the bullshit.

"No economist out there is projecting that this (injecting another $1.75T) will have a negative impact on inflation." -Psaki

If you're not short bonds already, maybe you should be.

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