Key Takeaways with Craig

US Equity prices were mostly higher again today, once again led by the Russell 2000, which has generally underperformed the other major US Indexes this year.  US Stocks ended the week higher as did yields in US Treasuries. 

Our recap of this week’s net price and volatility changes, compiled with QuikStrike and CVOL data, is below.  Some highlights of the week that can be characterized by declining volatility, are found here:

  • E-mini S&P 500 and Nasdaq-100 futures prices were higher and options volatility was lower.  E-mini S&P 500 options vol is trading at levels last seen before the COVID-19 pandemic. The S&P 500 index closed above 5,000 for the first time in history.
  • WTI Crude Oil prices were higher on the week, but CVOL is trading near 6-month lows.
  • Natural Gas futures prices declined by 11% on the week and are trading near 3-year lows.
  • Euro FX CVOL is trading at 2+ year lows.
  • Bitcoin futures prices were trading at 47,830 in late afternoon action.  The last time Bitcoin futures closed this high was in March, 2022. 

As always, we hope all of our readers have a safe and healthy weekend, enjoy the Big Game and Happy Lunar New Year!

Today's Future Price Action

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