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SPYBULLISHSubstantive discussion · 3/5

Cheap index-level options as a macro hedge

The speaker argued that with implied correlation at all-time lows, buying options at the S&P 500 index level is a very cheap way to hedge macro uncertainty or express directional views.

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The story so far
CONTESTED · 50 MENTIONS · 37 EPISODES · 14 SHOWS
18 JUL 2025 — 21 AUG 2026 · YESTERDAY
16 SUPPORT · 7 CHALLENGE · 2 REPEAT · 25 MENTIONED
  1. 18 JUL 2025 · FIRST HEARD
    THE ALPHA EXCHANGE
  2. 30 EPISODES BETWEEN · 41 MENTIONS
    1. 19 AUG 2025 · CHALLENGES
      THE ALPHA EXCHANGE · 3 MENTIONS
    2. 21 AUG 2025
      THE ALPHA EXCHANGE
    3. 5 SEP 2025
      GOLDMAN SACHS EXCHANGES: THE MARKETS
    4. 15 SEP 2025
      THE ALPHA EXCHANGE
    5. 26 SEP 2025
      GOLDMAN SACHS EXCHANGES: THE MARKETS
    6. 3 OCT 2025
      GOLDMAN SACHS EXCHANGES: THE MARKETS
    7. 10 OCT 2025
      THE MEB FABER SHOW
    8. 24 OCT 2025 · CHALLENGES
      GOLDMAN SACHS EXCHANGES: THE MARKETS
    9. 28 OCT 2025
      THE ALPHA EXCHANGE
    10. 6 NOV 2025
      THE DERIVATIVE
    11. 31 DEC 2025
      THE ALPHA EXCHANGE · 3 MENTIONS
    12. 8 JAN 2026
      MACROVOICES
    13. 15 JAN 2026
      THE ALPHA EXCHANGE
    14. 30 JAN 2026
      FORWARD GUIDANCE
    15. 6 FEB 2026
      FORWARD GUIDANCE
    16. 10 FEB 2026
      GOLDMAN SACHS EXCHANGES: THE MARKETS
    17. 25 FEB 2026
      WHAT BITCOIN DID
    18. 6 MAR 2026
      FORWARD GUIDANCE
    19. 6 MAR 2026
      MASTERS IN BUSINESS
    20. 27 MAR 2026 · CHALLENGES
      FORWARD GUIDANCE
    21. 2 APR 2026
      THE ALPHA EXCHANGE
    22. 3 APR 2026
      FORWARD GUIDANCE · 2 MENTIONS
    23. 10 APR 2026
      GOLDMAN SACHS EXCHANGES: THE MARKETS · 2 MENTIONS
    24. 11 APR 2026
      EXCESS RETURNS · 3 MENTIONS
    25. 27 JUL 2026 · 4W AGO
      CNBC FAST MONEY
    26. 31 JUL 2026 · 3W AGO
      THE ALPHA EXCHANGE · 4 MENTIONS
    27. 3 AUG 2026 · 3W AGO
      WEALTHION - BE FINANCIALLY RESILIENT
    28. 6 AUG 2026 · 2W AGO
      THE OPTIONS INSIDER RADIO NETWORK
    29. 7 AUG 2026 · 2W AGO
      CNBC FAST MONEY
    30. 12 AUG 2026 · 1W AGO
      THE OPTIONS INSIDER RADIO NETWORK
  3. 14 AUG 2026 · 1W AGO
    BLOOMBERG SURVEILLANCE
  4. 14 AUG 2026 · 1W AGO
    THE OPTIONS INSIDER RADIO NETWORK · 3 MENTIONS
  5. 18 AUG 2026 · 4D AGO
    THE OPTIONS INSIDER RADIO NETWORK
  6. 18 AUG 2026 · 4D AGO
    THE COMPOUND AND FRIENDS
  7. 20 AUG 2026 · 2D AGO
    THE OPTIONS INSIDER RADIO NETWORK
  8. 21 AUG 2026 · YESTERDAY · CHALLENGES
    GOLDMAN SACHS EXCHANGES: THE MARKETS
    • Cheap index-level options as a macro hedge · THIS IDEA
HOW THE SHOWS HAVE DISCUSSED THIS THESIS OVER TIME · NOT A PERFORMANCE RECORD
NOT INVESTMENT ADVICE · A SUMMARY OF WHAT WAS SAID ON THE PODCAST · VERIFY AGAINST THE SOURCE