Downside hedges: Equity vol might actually be "cheap" here

Which vol is right?

We have seen huge moves across assets as the banking crisis hit the world two weeks ago. In terms of volatility, equities have actually been the resilient one. If you believe that the banking crisis is not fully over, equities downside hedges look attractive from a volatility point of view. The recent resilience in Tech makes QQQ vol trades extra interesting. Time for a thread on some vol trades.

Macro cross asset vols