system
A chat on subreddit /r/wallstreetbets
human
I didn't understand a single word
gpt
ppl sold options too low, too fast

Cheapest levels in SPX options we've seen in a long time, and very quick drop in volatility levels year-to-date

Now we head into another big week of earnings, with FOMC on top of it -&gt; and there is no room for error

If Powell says anything to sour the hopes of rate cuts later this year, or earnings/guidance comes in poor, there's a good chance ppl come back to cover or puke the "risk-on" trades they put on as we entered 2023...

If we sell off, options (puts) can outperform a delta-equivalent amount of futures in a setup like this