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1. NBS (nbs@noagendasocial.com)'s status on Friday, 28-Jul-2023 08:47:08 JST NBS

   That one trader who has been with the firm for ages and no one really knows what exactly he does anymore

   Spoiler this is me

   • Woggy's Zeonic Frolicks likes this.
   • NBS (nbs@noagendasocial.com)'s status on Friday, 28-Jul-2023 08:47:59 JST NBS

     in reply to

     • midway
     • DrFell (Disgruntled Citizen)

     @midway @DrFell

     Depends on the vol you're talking about

     Fixed strike index vol came off 40bps on the open. Largely in anticipation of a large customer (holding 54k long put spreads, about 13mm Vega) in Aug31st and Sep. He sold out 24k of the Aug31st ahead of FOMC, but kept the Sept on (30k)

     Fixed strike vol began rising again into the meeting in the fronts; front week bid about 55bps on the day, while front months net up 15bps

     So fixed strike vol actually went higher today across most tenor

     Woggy's Zeonic Frolicks likes this.
   • NBS (nbs@noagendasocial.com)'s status on Friday, 28-Jul-2023 08:48:00 JST NBS

     in reply to

     • midway
     • DrFell (Disgruntled Citizen)

     @DrFell @midway

     Yep, perhaps the most boring FOMC day of the past 3 years. FOMC press conference was a dud, statement had about 3 words altered which meant nearly nothing.

     Here's the updated today/yesterday SOFR curve and my dashboard.

     No real major moves. SOFR still pricing in one more 25bps hike in Sep. Large move in the front Jun Sep, Red/Green outrights saw the largest moves day-over-day. This is mostly pricing in the dovish Fed speak from J Powell today.

     Nothing crazy

   • midway (midway@soapbox.midwaytrades.com)'s status on Friday, 28-Jul-2023 08:48:00 JST midway

     in reply to

     • DrFell (Disgruntled Citizen)
     As a range bound trader, boring works for me. And no real vol crush to hurt my positive Vega positions…extra sweet.
   • DrFell (Disgruntled Citizen) (drfell@freeatlantis.com)'s status on Friday, 28-Jul-2023 08:48:01 JST DrFell (Disgruntled Citizen)

     in reply to

     • midway

     @midway @NBS
     What they do, raise rates 25bpts?

   • midway (midway@soapbox.midwaytrades.com)'s status on Friday, 28-Jul-2023 08:48:02 JST midway

     in reply to
     Damn it feels good to be a trader.
     
     At least this FOMC day was good to me.