Meta Strategy Trading Portfolio – Probability Map Update.

– Wednesday Positioning Update –

New All Time Highs

The big three indices, S&P 500, Nasdaq, and Dow Jones, all rocketed to fresh all-time highs on Friday after moderate weakness into Vixperation.

The bouncy quality of high gamma markets played out again and stocks continued on to smash through a strong ceiling aided by expiring gamma.

However, it would be naive to expect a direct repeat of the exceptional year-end rally.

The removal of a large portion of gamma exposure means that the stock market is less tamed now, which can lead to larger, more sudden moves in both directions.

A blow-off top can easily be followed by a harsh pullback.