Senior Equity Derivatives Trader

Simon Harris

Equity Derivatives

Nasdaq-100 Stock Index / Equity Derivatives

<ul>
<li>Next week is the last big week of data releases for the year</li>
<li>With CPI data and also a FED meeting there is lots of potential volatility to come</li>
<li>We look at what is priced in to the derivatives market and suggest some trade ideas</li>
</ul>


Next week is the last big week of data releases for the year
With CPI data and also a FED meeting there is lots of potential volatility to come
We look at what is priced in to the derivatives market and suggest some trade ideas


EQD | SPX Index/NDX Index : Big Data Week Coming Up-We Look at What Is Priced In

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<ul>
<li>Our SPX bull view to 4,100 was satisfied, (Layer out of weaker longs) and now shifting to a more tactical stance of buying the 3,950-support zone to retest 4,100.</li>
<li>The current rise shares a number of characteristics with the summer counter trend rally. Weak spots are noted in small caps, NDX and Japan.</li>
<li>DXY 103 is our turn zone for a low in yield and SPX peak and topping process in December head of a more bearish Q1</li>
</ul>


Our SPX bull view to 4,100 was satisfied, (Layer out of weaker longs) and now shifting to a more tactical stance of buying the 3,950-support zone to retest 4,100.
The current rise shares a number of characteristics with the summer counter trend rally. Weak spots are noted in small caps, NDX and Japan.
DXY 103 is our turn zone for a low in yield and SPX peak and topping process in December head of a more bearish Q1


Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

Cross Asset Strategy

<ul>
<li>Rising US inflation since 2021 H2 has not produced the same prolific P/E multiple compression witnessed in the 1970s,  based on the premise that higher inflation will not be protracted.</li>
<li>Since the end of the last recession, companies have resorted to price increases to preserve operating margins, thereby generating economy-wide inflation and some downward pressure on P/E multiples.</li>
<li>Sticky US inflation raises the spectre of equity returns being earnings-driven, while only those companies enjoying positive real earnings growth will be considered for higher valuations.</li>
</ul>


Rising US inflation since 2021 H2 has not produced the same prolific P/E multiple compression witnessed in the 1970s,  based on the premise that higher inflation will not be protracted.
Since the end of the last recession, companies have resorted to price increases to preserve operating margins, thereby generating economy-wide inflation and some downward pressure on P/E multiples.
Sticky US inflation raises the spectre of equity returns being earnings-driven, while only those companies enjoying positive real earnings growth will be considered for higher valuations.


Efforts to Preserve Operating Margins Produce Inflation and US Equity Valuation Concerns

<ul>
<li>Weekly summary of vol changes and moves across Global Markets</li>
<li>Analysing ATM volatility and skew changes over the last 5 days</li>
<li>We suggest a few trades to take advantage of the implied vol surfaces</li>
</ul>


Weekly summary of vol changes and moves across Global Markets
Analysing ATM volatility and skew changes over the last 5 days
We suggest a few trades to take advantage of the implied vol surfaces


EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

EQD | SPX Index/NDX Index : Big Data Week Coming Up-We Look at What Is Priced In

We look at the big upcoming data points in the US and the FED rate decision. We consider what moves are priced into markets and identify trading...

Simon Harris

SPX Tactical Buy Dips

Our SPX bull view to 4,100 was satisfied, (Layer out of weaker longs) and now shifting to a more tactical stance of buying the 3,950-support zone...

Thomas Schroeder

Efforts to Preserve Operating Margins Produce Inflation and US Equity Valuation Concerns

US corporations have focussed on preserving high operating margins for many years. Recent price increases aimed at maintaining margins have simply...

DeSaque Macro Research

EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades

A weekly look at spot, vol and skew changes across 8 global Indices. We analyse the changes and try to identify the best trades based on the vol...

Simon Harris

EQD | Volatility Update: Weekly Review of Vol Changes and Best Trades

A weekly look at spot, vol and skew changes across 8 global Indices. We analyse the changes and try to identify the best trades based on the vol...

Simon Harris