📝Real Money Buying Mid-Dated SPX Downside: UBS Strategy

The market continuing to exhibit a spot down/vol up dynamic and implieds showing signs of life after hitting bargain basement levels. Flows saw some interest from real money players to buy mid-dated downside and in the market there was a buyer of 40k (20k SPX) Emini Mar 4,300/4,000 put spreads in clips throughout the day. In singles, consumer names were a focus with a decent amount of downside bought in softlines. - UBS Strategy