Active investment management’s weekly magazine for fee-based advisors

How I See It
Market commentary provided by well-known technical and research analysts, financial authors, investment newsletter publishers, and economists. The opinions expressed each week represent their professional perspectives and not necessarily those of the magazine.

The ‘ultimate’ tail-risk trade?

O​n Oct. 6, someone bought 50,000 $VIX March (22nd of 2023) 150 calls for $0.19. So, that’s 50,000 contracts on the CBOE. Strike is 150 for $VIX—or, technically, for the March (2023) $VIX futures. And the expiration date is roughly six months from now....

More trouble ahead for markets?

W​e had been bullish on stocks since March 2009, when mark-to-market accounting was fixed and the financial panic started to recede. At that time, the S&P 500 traded as low as 677. What a time to buy! After that, we remained bullish. We didn’t...