Gunjan Banerji

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560 appearances 12 recordings 1 series first heard Apr 2018 last heard Nov 2024

Gunjan Banerji’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Investors Cast Aside Volatility, Bet on Stocks Rallying · 9 Aug 2018 podcast

The Nasdaq Composite and S&P 500 closed at their second highest levels in history on August 7th.

So major indexes have waffled between gains and losses.

They have overall risen in recent weeks.

Sure.

Basically, call options are just contracts that give investors the right, but not the obligation, to buy shares later in time at a designated price.

So they can be used by investors to make bullish directional bets or hedge their portfolios.

For example, an investor might buy a call option tied to the S&P 500, taking another leg higher, at which point they could exercise these contracts or just profit from the change in price in the secondary market.

In the options market, a pretty popular metric is how expensive these kind of bullish options are relative to bearish options.

And recently, the bullish options have grown more expensive than the bearish options.

So that means that people are eyeing upside rather than trying to hedge their portfolios potentially.

Yes, you know, it's been a strong earnings season with more than two-thirds of corporations beating revenue expectations, according to FactSet.

And though risks to the markets definitely remain, analysts have said that lower tax rates have also driven profits at American corporations higher in the second quarter.

We've been seeing the popular trade of shorting volatility slowly coming back in the futures market.

This was a really lucrative trade last year before it backfired spectacularly in February when volatility kind of jolted markets.

And it's essentially a wager in the derivatives market that volatility will stay low or go lower.

or that stocks will continue to rise.

Because volatility tends to fall when stocks rise, that's why people turn to futures contracts on the CBOE volatility index to make this wager.

And their net shorts on the CBOE volatility index recently hit the highest level since November.

You know, it was a popular lucrative trade last year.

And as I mentioned, you know, net shorts recently hit the highest level since November.

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