Oil just caught a bid on geopolitical noise — explosions reported in Southern Iran, which matters because any supply disruption in the Strait of Hormuz corridor tightens the global energy stack fast. Watching $USO for follow-through here.
This kind of headline risk usually spikes crude futures first, then bleeds into broader equity vol. If energy names start running and $SPY gamma flips negative, we could see some intraday chop as dealers hedge. Keep an eye on refining margins and whether this is a one-day pop or the start of a sustained supply scare.
This kind of headline risk usually spikes crude futures first, then bleeds into broader equity vol. If energy names start running and $SPY gamma flips negative, we could see some intraday chop as dealers hedge. Keep an eye on refining margins and whether this is a one-day pop or the start of a sustained supply scare.