Weekly Volatility Read

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Good Evening --🌗 🌕🌓

I hope everyone is having a relaxing weekend with friends and family alike because soon we will be in the thick of the price action again -- and it may get spicy! Let't us dive in as we review what happened last week and we look towards the next to trade range or observe.

The SPX opened the week fairly slow at $6,193.18 and increased throughout the week wicking up to a new ATH of $6,315.61 only to close the week off at $6,267.28 -- This leaves the IM on the week +$83.10. This closest respects the quarterly implied range that was a 'strength of IV' of 129.30%.

Now looking towards this next week we have extremely low HV across the board in the broader markets. SPX IV (13.14%) is trending 32% IV percentile on the year -- premium is seemingly cheap. HV10 (6.97%) is coiled within 97.67% of it's sliding yearly lows, showing a need for short-term volatility to consolidate. HV21 (7.78%) is even more coiled to it's yearly low at 98.76% respectively. Both are roughly mid 50% 'strength to IV' as IV predicts twice the potential move next week.

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Lastly, HV63 our quarterly trending values is showing a 'strength of IV' at only 108% but, could be supporting the thesis IV is projecting, as we do need a VIX pop OR time-wise consolidation. 📈📉

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I hope everyone has a great week trading ranges and I will see you next weekend!

Cheers! 🍻🍻🍻

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