The tweet was deleted by the author.
But we saved everything 🙂.
Craig Shapiro highlights that the May options expiry is taking place today, which will see a significant amount of positive gamma come off the board.
He suggests that this could open a window of potential weakness in the market and advises caution around this period. Shapiro alludes to a historical warning, referencing 'Beware the Ides of May,' and seeks input from another market participant on the situation.
Earlier this month, Shapiro identified falling jet fuel stocks and diesel prices as key factors impacting energy supply. He also reported on institutional investors rotating into quality growth stocks like semiconductors and industrials. Both developments came as energy lagged and commodity deflation persisted.