closing hour action: a little choppy, leaning weak, and turning fractionally negative.
... and that concludes Wednesday, as rates were hiked for a third time this year, as expected.
It was a day for the equity bulls, as we did break a pair of new index historic highs in the Dow and sp'500.
Notable options. >120000 of the Dec'22nd SPY $270 calls.. effectively 'seeking' sp'2700 ahead of the 3 day Christmas holiday break. Its a bold trade (costing around $2.3 million), but the m/t trend is clearly supportive of it.
Ohh, and we now have just 11 trading days left of the year. Tax loss selling in some stocks (such as GE) will likely be an issue. Broadly though, most recognise the sp'2700s and Dow 25k are on the menu.
This wasn't enough to merit going out today... not least on a fed day!
Have a good evening
more later on the VIX and Indexes by 6pm EST