Despite Seasonal Stress, Top Goldman Vol Trader Says 'Risk-Reward For Owning Upside Extremely Compelling' Here

A few weeks ago, Shawn Tuteja, who oversees ETF and custom baskets volatility trading within Goldman Sachs, wrote that the S&P would likely trade in a tight range for the rest of the month, despite the strong micro earnings and seemingly better news on the macro front.

Essentially, he says, we had climbed the “wall of worry” that had built at the end of July with not only the AI trade but also the Fed rate path, back-end bonds, and equity supply. 

Macro Background