PremiumBiggest "Surprise" In 19 Years: Goldman's Garrett Sees Echoes Of COVID, GFC, & Liberation Day As Panic Index Explodes
Hard to sugarcoat this one.
Last Sunday, Goldman derivatives guru Brian Garrett was counting seven signs of "healing" in the AI trade, while noting that the options market was charging less for Apple earnings and the midterms than a single bad Friday had cost. Four days later the Nasdaq 100 crashed 6.4%, its worst day since March 2020, the S&P lost 4.4% (its worst since Liberation Day), and traders bought more puts than on any day in Cboe history. So much for the 8th inning.