Gordon Johnson
@GordonJohnson19
"Derivatives, are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal”-W Buffett; tweets are not fincl advice
Joined December 2012
866 Following 64.2K Followers
$SPY up today. Fintwit: "Warsh reassured markets." No.
Into the Fed, everyone bought puts. VIX1D: 19 at the presser → 12 this morning.
At 12 vol, a 1-day ATM put is worth 35% less than at 19. Insurance gets dumped, dealers buy back hedges, S&P rips.
Plumbing, not narrative.
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