Options Montage: A neutral short-term sentiment heading into today's quad-witch expiration
Options Montage: A neutral short-term sentiment heading into today's quad-witch expiration
By Eli, Jimmy
作者：伊萊，吉米
Bullish price action saw in Tech and Growth names under the belly on Thursday, plus there was an unwinding of Financials, materials and commodity plays. Institutional sweepers made it clear where their focus was going to be on Thursday by annihilating short-term calls in AMD right off the opening bell, insane activity in the semiconductors play which is currently on many players' DO NOT TOUCH list. AAPL PINS U also saw active sweeping activity, BILL coming off solid august flow accumulation had another solid session today.
週四，科技股和成長股出現了看漲的價格走勢，加上金融、材料和大宗商品類股的平倉。週四，機構投資者一開盤就消除了AMD的短期看漲期權，明確了他們的重點將放在哪裏。AMD的半導體業務目前在許多參與者的禁止接觸名單上，這是一種瘋狂的活動。AAPL PINS U也出現了積極的掃蕩活動，BILL走出了堅實的8月流量積累，今天又有了一個堅實的交易日。
On the sentiment front
在情緒方面
Because of the unwinding of all the "inflation" positioning out there, the intraday sentiment was held down for most of the early part of the day, even as Nasdaq's high growth names were on fire. Short-term sentiment landed on a Neutral territory heading into today's quad-witch expiration.
由於所有“通脹”頭寸的解除，盤中情緒在當天早盤的大部分時間裏受到抑制，儘管新浪納斯達克的高增長名稱正處於火熱之中。短線人氣落在中性區域，進入今天的四女巫到期。
All we have to do is look at positioning and sector sentiment to understand what took place out there yesterday, it's no coincidence that commodities were just labeled the new "most crowded trade", only to see it blow up right in their faces. Do you remember what commodities replaced as the "most crowded trade"? Bitcoin, right before bitcoin had its own blowup. As far as sectors are concerned, energy and financials were overdue for a washout, banging their head in overheated territory for a bit now. Now on a shorter-term basis, tech has been heating up and approaching poor risk and reward territory, while groups that were once scorched have rinsed considerably.
我們只需看看頭寸和行業情緒，就能理解昨天發生的事情。大宗商品剛剛被貼上新的“最擁擠交易”的標籤，卻眼睜睜地看着它當着他們的面爆炸，這並非巧合。你還記得哪些大宗商品取代了“最擁擠的交易”嗎？比特幣，就在比特幣出現爆炸之前。就行業而言，能源和金融類股早該遭受重創，目前有一段時間在過熱領域撞到了頭。現在，在較短期的基礎上，科技股一直在升温，並接近低風險和低迴報區域，而曾經被燒焦的集團已經大幅縮水。
So we could see this reverse a bit next week for trade, for Tech, it feels like that applies more for big tech as we could see underbelly growth still outperform a bit. Next week should be a fun week, quad witch and the FOMC will be in the rearview mirror, and there has been a decent amount of de-risking from the players this week, usually, those are some key ingredients for bullish action.
因此，我們可能會在下週看到貿易的這種逆轉，對於科技股來説，感覺這更適用於大型科技股，因為我們可以看到低迷的增長仍然略好於一些。下週應該是有趣的一週，四女巫和聯邦公開市場委員會將出現在後視鏡中，本週球員們已經進行了大量的去風險操作，通常情況下，這些都是看漲行動的關鍵因素。
Notable bettings toward broader market indices ETF on 6/17
6/17大盤指數ETF值得注意的押注
Individuals breakdown by sectors (6/17 notable bets)
按行業細分的個人(6/17值得注意的賭注)
Tech
高科技
Industrial
工業
Consumer Cyclical
消費週期
Financial
金融
Communication Services
通信服務
Healthcare
醫療保健
Energy
能量
Basic materials
基礎材料
Consumer Defensive
消費者防禦性
Utilities
公用事業
