Sell low, buy high agony continues
Sell low, buy high
What a difference a week makes. Last weekend (here) we wrote: "According to GS PB, the macro shorting activity was the largest in almost a year." The latest from GS is basically the inverse to last week: "In notional terms, this week’s short covering in US Macro Products is the largest since Nov ’20 and ranks in the 100th percentile vs. the past five years". Are these people trading short gamma, without the theta checks?
