Extremely strange-In less than 5 mins, about $2bil worth of SPY was purchased.Maybe I'm ignorant but how many institutions have 2 bil to throw on one trade. Berkshire?Coalitions of hedge funds? The bigger question is why are MMs trying to prop markets so far beyond fundamentals.
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It’s not too crazy. My firm has a quarter trillion and we are small. A rebalance of 3% back to equity from an average 60/40 portfolio would lead to perhaps 1% moving into SPY/IVV/VOO and there’s an arrangement for average price for the day. So custodian/MM might be short $1B EOD
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There's almost always a daily spike in volume at open and close... nothing out of the ordinary.
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I saw that
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