Record put volume and deleveraging; Fed's Daly hawkish
Thursday saw record US options volume and the biggest put day in Cboe history, with hedge funds sharply cutting leverage. Fed's Daly said policy may need to tighten further.
What we know
Options volume hit 112M contracts and an account on X called it the biggest put day in Cboe history. Morgan Stanley data shows a 5% drop in hedge fund net leverage. Daly said policy will have to tighten further. Bitcoin is moving with equities: Another account on X puts the 30-session S&P correlation at 0.80. Caleb Franzen notes COIN at multi-year lows, and Byzantine General sees spot bids at 73k.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.