signal-du-jour · Jul 31, 2025

Signal du Jour - short vol in USO

Apparently, Fed Chair Powell was hawkish yesterday. At least, that is what the financial media decided after a “massive” 0.5% dip in the S&P 500 as the

signal-du-jour · Jul 24, 2025

Signal du Jour - long short XLF/XLK

The days pass and resemble themselves. SP500 is still edging higher while the VIX tries to dig deeper. We saw numbers below 16 yesterday: one week ahead of the next

signal-du-jour · Jul 17, 2025

Signal du Jour - short vol in US equity

We’re back after two weeks off—and what better welcome than yet another round of rumors about Trump trying to oust Powell? Markets have been fairly tame over the

signal-du-jour · Jul 3, 2025

Signal du jour - short vol in JPM

We wrote on Sunday that with VIX6M at 22, there was little reason to be overly anxious about the next six months — and that a bit of calm was warranted.

signal-du-jour · Jun 26, 2025

Signal du jour - Long volatility in VTI

What a weird quarter it has been. From VIX kissing 60 to closing at all-time highs by the end of the period—via the bombing of Tehran and strikes on

signal-du-jour · Jun 19, 2025

Signal Du Jour - long/short us indices

As the world holds its breath to see how the conflict between Israel and Iran will evolve — and hopefully not take a nuclear route — markets have remained steady. No deep

signal-du-jour · Jun 12, 2025

Signal du Jour - stay put

Let’s start with the obvious. Markets have been dozing off since the beginning of June—so much so that we had to dig deep to come up with today’

signal-du-jour · Jun 5, 2025

Signal du Jour - long vol in the banks

Be careful what you wish for. You think this market is boring? Yes, us too. Legend has it we even blew on our screens this morning, just to see if

signal-du-jour · May 29, 2025

Signal du Jour - short vol in MRVL

The big overnight news was the rebuke of the tariff policies by the U.S. Court of Trade, ruling that the legislation the administration used for “Liberation Day” was invalid