Initiating SPY Calls Amid Market Froth

3 months ago

"Millennium has underperformed the S&P 500. We'd like to redeem our entire investment from Citadel, Kensington, and Wellington funds immediately. What are we going to do with it? Well, first of all, sir, that's none of your business. But second of all, I'm going to buy some spy calls. That's right. And a good day to you."

The speaker outlines a scenario where underperformance leads to a decision to exit traditional investments and execute a position in SPY call options, explicitly stating a plan to buy calls as part of a gamma squeeze strategy. This direct trade call reflects a bullish stance on the broader market via SPY options.

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