Below is a chart and excerpt from today's Early Look written by CEO Keith McCullough.
Why did $758 BILLION in notional SPX puts trade yesterday? That was the 2nd most (for a day) in the history of the US listed options market! So, you’re saying consensus (Marko, Telecom Tom Lee, etc.) was off-side for #Quad4 coming into this?
Yep, and they’re saying they want +75bps? Reality is they only think they know what they want.