The fund nicknamed "Gamma Hammer" from Parametric (owned by Morgan Stanley following its acquisition of Eaton Vance) has been selling options in the wake of US stimulus and vaccine-driven expectations of a dampening in volatility.
Friday, 30 April 2021
Monday, 19 April 2021
Techie-Trader Duo Fleetingly Scores $100bn on NASDAQ
Founded in 2012 by Ex Airbnb Software Engineer Brian Armstrong and Fred Ehrsam, trader at Goldman Sachs, in an effort to simplify bitcoin trading, Crypto-exchange Coinbase's IPO heralds crypto's arrival on the stock market.
In 2020, 86% of Coinbase's revenue came from trading commissions. In Q1 2021, its transaction fee was 46bps. Competitors such as Gemini, Bitstamp, Kraken and Binance may pressure these fees downwards.
Monday, 12 April 2021
Biden's 2TR $ Infrastructure Plan includes $50bn for Domestic Semiconductor Manufacturing
Global semiconductor revenues grew 10% in 2020 with Intel (INTC), as usual, the largest vendor. Its stock price is up 37% YTD. MediaTek has also been doing well.
NASDAQ traded Micron Technology (MU) that has traditionally focused on DRAM has also done well. It is part of the NASDAQ-GS (Global Select market) which is the highest "market tier" on NASDAQ. The other tiers are the "Global Market" and "Capital Market". Micron's President and CEO is Berkeley-educated Sanjay Mehrotra, co-founder of SanDisk (now Western Digital).
"Memory, GPUs and 5G chipsets" are leading the growth, according to Gartner data. US President Joe Biden wants to expand US production and also address China competition.
Oil is in "wait and see mode" says UBS as prices Hover Around $60 per Barrel
Traders are waiting to see if there will be a recovery in consumption from the COVID-19 pandemic. Giovanni Staunovo covers Commodities for UBS, the Asset Management division of which recently came up with its second "Commodity Carry" ETF. An increase in US drilling activity may counteract gains.
Thursday, 1 April 2021
Deutsche Bank Sold $4bn Holdings Quick to Escape Big Hit from Archegos
The sale was triggered after Archegos defaulted on margin loans. The bank also navigated the Wirecard AG accounting scandal well (one of Germany's largest accounting scandals) by hedging their exposure,
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