TRADING WEEK MAR 10TH-MAR 14TH

The volatility just keeps expanding. The intraday trading ranges for SPY last week were 17.44, 13.14, 11.80, 10.05 and 11.76. The hi-lo for the week was 27.22. No wonder the backwardation in the VIX futures was even more pronounced. The volatility can't keep expanding. Can it? Well two big numbers are coming out twenty-four hours apart. The CPI comes out first on the 12th at 8:30am ET, followed by the PPI. If they are even mildly inflationary then the FED can't very well cut interest rates. The on again, off again tariffs blitz isn't exactly tamping down volatility either. Last week's at the money straddle was priced at 11.80. It was a bargain. The SPY 14Mar25 576 straddle was priced at 14.90. If the volatility keeps expanding then that will be a bargain as well. If the market stops to catch its breath then it could be disastrous. That is why I went long the negative gamma SPY 14Mar25 571-576-581 call butterfly at 0.45. ORCL reports earnings after the close on the 10th.