$SPY time and sales
Shared this info on my private account earlier today:
Someone purchased 35K of 16 Oct'20 $255 puts on SPY paying a whopping $63.7m for these puts.
Protection or a crash bet? In any case, this investor is concerned that a new leg down might be starting. pic.twitter.com/6UE6jzyKmv
— Yuriy Matso (@yuriymatso) April 15, 2020
How much is this people going long specific names and hedging the beta? https://t.co/0PC0e8kYyl
— Robin Wigglesworth (@RobinWigg) April 15, 2020
At today's high, the S&P 500 got within ~16% of the most extreme valuations in U.S. history.
I know ya'll are looking "over the valley" because recession lows are followed by bull markets.
Worth remembering that those recession lows were at valuations about 40% of today's. pic.twitter.com/WGehxlGky0
— John P. Hussman (@hussmanjp) April 14, 2020