It's a half trading session today, and SPX has remained mostly unchanged in this holiday week of trade. This is not saying that the market can't move, $S&P 500 index(.SPX.US)$ is still pricing in an 18.27 points move higher or lower by the end of this week. And $VVIX Index(.VVIX.US)$ which is the volatility of the volatility index once again is edging up to a hundred level. The indicative of this is that some of the traders are starting to jump specifically into the $Volatility S&P 500(.VIX.US)$ options, which options would make the volatility of the volatility index go up.
Besides, in the indicator session. What we have observed from yesterday's trading session is the Equity Hedging index.
Equity Hedging Index Source: Sentimentrader
In terms of hedging, there are many ways in which an investor can hedge against a stock market drop. You can raise the cash positions, buy put options or an inverse mutual fund (including ETFs). The Equity Hedging Index can be undetermined by those factors mentioned above and compares the current level to its historical average. The more hedging activities being placed in the marketplace, the higher the Equity Hedging Index will be.
This is a contrary indicator, which means the higher the Equity Hedging Index is, the more likely markets will rally moving forward; the lower the index, the less likely markets will rally later. Now the index itself is reaching its lowest level as the chart shown above. When it hit a very low point, the investors would feel need to reduce their potential returns by hedging themselves against a potential top blow off scenario. Therefore, such an index below 20 is a warning sign for stocks.
Economic Calendar
Besides, here are the big bets detected from the options chain on 12/23.
$Apple Inc(AAPL.US)$ seems got a quite bullish view within the Christmas holiday trading session and afterward while $Ishares Msci Emerging Index Fund(EEM.US)$ the emerging markets also attract many investors' attention as easing trade tension between two major economies and outlook 2020 for the Copper which is tightly linked to emerging markets economical performance.
$Tesla, Inc.(TSLA.US)$ after Musk's notable 'funding secured' tweet one year ago, now finally hit a $420 level in the last trading session, which seems also triggered some short interest in the marketplace according to the chart above.
Editor/Eli
今天是半个交易日，SPX在这个假日交易周里基本保持不变。这并不是说市场不能移动，标准普尔500指数(.SPX.US)美元在本周末仍在18.27点上下波动。而$VVIX Index(.VVIX.US)$，即波动指数的波动率，再次上升到100级。说明这一点的是，一些交易员开始专门跳入标准普尔500(.VIX.US)美元期权，这将使波动性指数的波动性上升。
另外，在指标会议上。我们从昨天的交易中观察到的是股票套期保值指数。
股票套期保值指数来源：SentimenTrader
在套期保值方面，投资者可以通过多种方式对冲股市下跌。你可以增加现金头寸，购买看跌期权或反向共同基金(包括ETF)。股票套期保值指数可以由上述因素决定，并将当前水平与历史平均水平进行比较。市场上套期保值活动越多，股票套期保值指数就越高。
这是一个相反的指标，这意味着股票套期保值指数越高，市场反弹的可能性就越大；指数越低，股市以后反弹的可能性就越小。现在，指数本身正达到最低水平，如上图所示。当股价跌至非常低点时，投资者会觉得有必要通过对冲风险来降低潜在回报。因此，这样一个低于20的指数是股市的一个警告信号。
经济日历
此外，以下是从12/23期权链中检测到的大赌注。
苹果公司(Apple Inc.，AAPL.US)美元似乎在圣诞假期交易时段和随后的交易日期间都得到了相当乐观的看法，而iShares MSCI新兴市场指数基金(EEM.US)美元也吸引了许多投资者的注意，因为这两个主要经济体之间的贸易紧张缓解了，铜业的前景与新兴市场的经济表现紧密联系在一起。
特斯拉(Tesla，Inc.)(TSLA.US)在一年前马斯克显著的“融资担保”推文之后，现在终于在上一交易日达到420美元的水平，根据上表，这似乎也引发了市场的一些空头兴趣。
编辑/Eli
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