Breaking News

Tag Archives: negative gamma

Unhedged traders get hit by $30 billion bank bloodbath following earnings; JPMorgan Warns S&P Faces Large “Negative Gamma”; Scott Nations: Options are very ‘cheap right now for a reason’ Newsletter,Options

Lead Stories Unhedged traders get hit by $30 billion bank bloodbath following earnings Joe Ciolli – Business Insider It’s good to invest with conviction. Just not too much conviction. That lesson rang true Friday, as overconfident traders found themselves on the wrong side of a massive bank sell-off, which at its worst erased more than $30 billion in market value. The weakness was spurred by earnings reports from three of Wall Street’s biggest banks: JPMorgan, Wells Fargo, and Citigroup. Despite sales and profit results that largely met analyst expectations, the three firms slipped more than 1%, dragging broader financial indexes…