In this episode, we take a deep dive into the March 2024 options expiration and its potential implications for the market. We discuss dealer positioning into the expiration, whether the call buying in the chip sector is showing signs of exhaustion, the relationship between gold and Bitcoin and forward stock returns, options positioning headed into Nvidia's upcoming major announcement and a lot more.

00:00 - Intro
01:20 - The OPEX Cycle
02:52 - Inside the March Expiration
07:56 - Some Signs of Life in Volatility
11:33 - The Huge March OPEX
16:12 - No Dips to Buy
17:30 - Heavy Call Skews
19:38 - Chips are the New FAANG
27:53 - Bitcoin and Gold vs. Forward Stock Returns
31:47 - Pure Chasing
34:29 - The 2021 Comparison
42:13 - Record Call Volumes
43:16 - Dispersion, Correlation and Volatility
51:56 - The Semi Trade
53:51 - The Call Bid is Breaking Apart
57:17 - The Nvidia Event
01:05:01 - Violent VIX Expirations
01:07:35 - Mapping out SPX Time and Price

#options #optionsflows

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