Key Takeaways with Craig

Instead of reiterating the events that continue to unfold and that have dominated both financial and standard news headlines, we’re simply going to recap some of today’s market moves in this edition of In FOCUS.

  • Equity Index futures were lower by between 1 and 1.5% but closed off of today’s lowest levels and the associated options are trading at implied volatilities we haven’t seen since the Fall of 2020
  • Gold rose another 2.5% today and, similar to equities, implied volatility is at 15+ month highs
  • CME Grains futures prices rose by another 5% today.  We’ve graphed 5 years of price and volatility in Wheat futures below.  The QuikStrike graph illustrates the dramatic increase we’ve seen in both.  At 75%, Wheat options 30-day implied volatility is trading higher than Bitcoin implied volatility
  • Speaking of Bitcoin, cryptocurrency prices, which had been behaving like “risk assets” and selling off with the stock market, reversed that trend over the last day and staged strong rallies, even as equity prices declined
  • WTI Crude Oil futures prices were up by over 10% today and implied volatility in the options is trading at levels we haven’t seen in 18 months
  • US Treasury prices rallied (yields fell) despite the persistent inflation numbers we’ve seen

Thanks again to all of our In FOCUS readers and we’ll see you tomorrow.  

Today's Future Price Action

Traders Resources

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