Exchanges mine volatility.
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Volatility as a commodity: -supply is endless -demand is endless -cost of production is almost always below market price
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"Don't be long gold, be long the gold miners" "Don't be long volatility, be long the exchanges"
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Replying to @HideNotSlide
Right now isn’t volatility mainly in equities, so those exchanges with the highest equity exposure (cash/derivs) will benefit most?
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Replying to @FinSkirt
For the most part yes. Heading into the election everything will be volatile - right now it's equities, but we're one geopolitical headline from oil vol popping, and one Fed headline from gold vol popping, etc...
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Replying to @HideNotSlide
And what headline do we need for rate volatility to pop??
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¯\_(ツ)_/¯pic.twitter.com/sYdYeTAFii
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