just did some rough math. aside from the insane amount of $TSLA options gamma out there, for every 2% rise/fall in $TSLA stock on a given day, Tesla levered ETFs must buy/sell roughly 1% of ADV.
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I forget who it was that provided the data - recent guest on Market Market Huddle who had it in his chart book - the ratio of flows into levered long vs levered short ETFs is an interesting froth indicator. He found looking at total margin debt to be less useful than it was and subbed in this stat.
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Then again, understandable considering the capital destruction and the leveraged short funds. Looks like UVIX