I saw a ZH article yesterday (insert grain of salt) that noted that short-interest in SPY is at an all time low, which seems odd considering the current market valuation. So I looked up the SPX put/call ratio, which tells quite the opposite story. The put/call ratio has surged since December, which I take as one of two things: 1) The professionals know what they're doing (this is CBOE contracts, after all) 2) There's just too much policy uncertainty to actually short the market, so insuring with puts is probably the less volatile choice.
I would love to hear of anyone actively shorting the market, and the rationale behind that decision.
Submitted April 26, 2017 at 09:36AM by TheMacroEvent http://ift.tt/2oLVeqY
