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by qeternity
1754 days ago
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No. Again, like short selling, you misunderstand the relative ratios of beta length vs. everything else. Smaller moves, at the money, occur because of this or in single names in multi SD moves (a la Archegos). The prevalence of vol control strats today means we also see these sorts of moves around key index gamma levels, but we're talking 100bps travel. Mar'20, 2008, etc - these did not happen because guys were getting margined. These happened because because were panic selling huge amounts of length. |
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