"Everyone was hedged for earnings like the Upstart (UPST) miss. Volatility was also super well bid. The outcome then does not matter and traders sell all of their options. Crowded shorts are rallying today in Roblox (RBLX) and Airbnb (ABNB). The market is still trading like it's very well hedged and fairly short. We are getting back to the pre-Covid volatility levels. Now traders are going further out in their trades," says Danny Kirsch.
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