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The Global Margin Call | Volatility Veteran Noel Smith on Dispersion, Vol of Vol, and How He’s Trading VIX Spike & Stock Market Crash
Forward Guidance
Embrace Volatility or Risk Losing
High market volatility fuels a bearish sentiment, influenced by high implied and realized volatility along with their ratios. When implied volatility is underestimated by market makers, opportunities arise to purchase volatility at a bargain, potentially leading to profitable outcomes. The challenge lies in predicting when the market may stabilize, as being long on volatility can lead to losses if the market stops crashing. Participants need to be strategic and innovative, recognizing that prevailing data is often available to all, making it difficult to consistently outsmart market makers without unique insights.
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