Today on The Macro Show, Hedgeye CEO Keith McCullough highlights implied volatility discounts hiding in mega-cap portions of the market and how that fuels complacency within bubbles.

“If you go back to the options market rally in July, there was one day in particular when Tesla (TSLA) call options represented 44% of total single stock call options volume on the day. 44%. Think about that,” says McCullough. “The bubble is still in those bubble caps, on any metric evaluation. ”

McCullough: Bubble Cap Fueled Complacency  - MTCS 9 1 2022 Banner