The Macro Brief: Gearing Up For Higher Volatility, Collateral Shortfall Hits Yearly High

Where Macro Meet Markets

Early in yesterday’s session, I sent out some quick, important bullets to Pro subscribers (@macrostratpro) which became rather timely.

• SPY p/c ratios are rising into stagnant price momentum following our gamma flip commentary - https://t.co/2dMfpuw10r

• SKEW still showing that tail risk protection is cheap.

• Notional gamma has dropped 215M to 363M, larg…