The Macro Brief: Sell Vol In May And Go Away?

Where Markets Meet Macro

Equities are ripping higher both globally and in the U.S. Is it time to sell vol in May and go away?

A play on words of the old axiom “sell in May and go away,” points to the seasonal shifts leading into the lower-volume months where investors and traders alike sell their equities in May until they come back in August.

With positive gamma increasing over the last several trading days, currently $408M, dealers are selling the rips and buying the dips.

I'm going to get into the market profile, systemic flows and options data to give you a better idea of what to expect near-term.