Wall Street traders 'caved'? Deployed $9 million to protect against a potential September market sell-off
Market VisionFriday, Aug 30, 2024 7:40 pm ET
1min read As many Wall Street traders prepared to take a long weekend for Labor Day, at least one investor was making a protective play for the market sell-off in September. A trader or traders bought call spreads on the Chicago Board Options Exchange's VIX index, which protects against the risk that the VIX index, which is currently slightly above 15, will soar above 22, the level it was at on Aug. 9 when the market was just recovering from a sharp sell-off. If the VIX index rises to 22, it will return to the level it was at on Aug. 9.
Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.
