It’s not always that you get a nice and smooth yield curve. Sometimes there are kinks. Embedded in those kinks is a wealth of information. For example, what does a kinky yield curve tell us about the interest rate expectations? Well, let’s have a look ? So last Friday, I decided to spend my evening […]

$500,000,000 Half a billion dollars. Currently, this is how much of an SPX index has to be bought or sold for every 1% down or up move, respectively. These flows are a result of a substantial options trade that was placed yesterday. Let’s have a look at what’s going on. Once upon a time, there […]