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A Few Things Around Expirations:
Oct 17, 2025 PLEASE DO NOT REDISTRIBUTE Please see the Appendix for important disclosures. 1 of 3 Strategas Securities Brandon Kobelt (212) 906-0133 bkobelt@strategasrp.com Laurent Laskowski, CFA (646) 292-7990 llaskowski@strategasrp.com Josh Miller (646) 292-7991 jmiller@strategasrp.com Equity Derivatives Strategy Fri. Oct. 17, 2025 A Few Things Around Expirations * With index options expiring this morning and single/ETF options expiring this afternoon we thought it important to ...
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Bull Thesis Intact But Shift in Sentiment Suggests Choppy Days Ahead of
Stimulus Wave:
Oct 17, 2025 ... 60% 36% 63% 38% International 40% 24% 37% 22% 100% 60% 100% 60% Strategas Portfolio Exposures Dev AC Core 26% 16% 26% 16% iShares MSCI EAFE Core ETF (IEFA) US LC Growth 24% 14% 27% 16% iShares S&P 500 Growth ETF (IVW) US LC Value 20% 12% 19% 11% iShares S&P 500 Value ETF (IVE) EM AC Core 14% 8% 11% 7% iShares MSCI EM Core ETF (IEMG) US LC Core 10% 6% 12% 7% iShares S&P 500 Core ETF (IVV) US MC Value 3% 2% 2% 1% iShares S&P Mid-Cap 400 Value ETF (IJJ) US SC Core 2% 1% 1% 1% ...
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Webcast Replay & Key Charts:
Oct 17, 2025 ... Strongest Trends Weakest Trends Strongest Mo Weakest Mo ✓ Equity ETF Flows S&P Futures Positioning 10-Day Put/Call Ratio VIX Curve I.I. Bull ... $800,000 $900,000 10/12/2022 10/12/2023 10/12/2024 Cumulative Equity ETF Flows by Year of Current Cycle $MM ETF FLOWS MUCH MORE PERSISTENT TODAY THAN PRIOR YEARS Proprietary ... Apr-24 Jul-24 Oct-24 Jan-25 Apr-25 Jul-25 Oct-25 Cumulative Sector ETF Flows Since Oct. '22 S&P 500 Low $MM Tech Healthcare Communications ...
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Strong Start For Financials in 3Q Reporting Season:
Oct 16, 2025 We find this disconnect somewhat troubling, or perhaps we're reading too much into it. Only time will tell. Formerly Passive ETF Providers Trying To Shake Low Cost Products As my colleague and ETF Strategist Todd Sohn has pointed out, the shift toward ETFs as preferred investment vehicles is still in its early stages. BlackRock highlighted the rapid growth across digital assets, bond ETFs, and active ETFs as key drivers behind its double- digit organic base fee growth in the ...
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ETF AUM Has Doubled As 4th Year Of Cycle Begins:
Oct 14, 2025 See Appendix for Important Disclosures ETF Research Tuesday, October 14, 2025 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com ETF AUM HAS DOUBLED AS 4 TH YEAR OF CYCLE BEGINS Using the October 2022 market low as an anchor point, below are 4 items from the ETF universe to know entering year 4 of the current cycle: Industry. Between market appreciation plus flows, ETF industry AUM has doubled from $6.3 Tn to $12.8 Tn. ETFs using derivatives have ...
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10 Things That Keep Me Up At Night:
Oct 13, 2025 ... It also means an eventual downturn could be even more painful, particularly for those who jump in during the later stages of the rally. 9) The Number Of Levered ETFs. My colleague, Todd Sohn, seems to send a list of new 2x and 3x levered single-stock ETFs almost daily. These trading ... CARD DATA SHOWS SLOWING CONSUMER SPENDING GROWTH IN SEPTEMBER VOLUME OF LEVERAGED SINGLE STOCK ETFS CONTINUES TO RISE 10/13/25 Strategas Securities - Investment Strategy PROPRIETARY INFORMATION - ...
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Video Slides:
Oct 10, 2025 Strategas Technical & Macro Research 4 10/10/2025 GLD 50 & 200-Day MA Total Call Volume Massive surge in call volume in GLD over last several days... GOLD ETF FLOWS HAVE SURGED 5 10/10/2025 SPDR Gold ETF (GLD) 200-Day MA Gold ETF Flows Rolling 1-Year Sum, $ BN $38 Bn $38 Bn ... Equity ETF Flows S&P Futures Positioning 10-Day Put/Call Ratio VIX Curve I.I. Bull / Bear Ratio Consensus % Bullish AAII Bull/Bear Ratio Policy Uncertainty Median Percentile Strategas Sentiment Dashboard ...
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Treasury Market Balance Sheet:
Oct 9, 2025 rate futures volume + open interest and MOVE index & bond ETF volatility from neutral to long, and options on Treasury ... OI Tsy Net Issuance & RRF Operations MOVE Index & Bond ETF Volatility Options on Tsy Futures Vol Tsy Auction Bid-to-Cover ... SHORT 10/9/25 Please see the Appendix for important disclosures. BOND MARKET VOLATILITY: MOVE INDEX & BOND ETF ATM IMPLIED VOLATILITY Yield volatility has touched new lows, and most measures of bond market ETF volatility are ...
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New High For Tech Weight, New Low For Defensives:
Oct 9, 2025 Technology Strategas ETF Research See Appendix for Important Disclosures ETF Research Thursday, October 9, 2025 Strategas ETF Research Todd Sohn, CMT (646) 292-7958 tsohn@strategasrp.com BITCOIN + GOLD SURROUNDING NEW HIGH FOR TECH WEIGHT Strategas hosts a 30-minute morning meeting ... We mention this because yesterday's gathering was particularly focused on the message from Gold, its persistent rise, and what might derail it. From our ETF perch, we find these 3 ...
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Peak Buyback Blackout Window Next Week:
Oct 8, 2025 However, there are some corners of the market, particularly with BDCs, where signs of distress are forming. The average YTD price return for Vaneck's BDC ETF holdings is -15%. This week we also got news on the collateral damage from First ... -20% -10% 0% 10% 20% 30% Source: Strategas, FactSet, Data as of 10/8/25 VanEck Business Development Company Income ETF Holdings LTM Div Yield YTD Price Return 10/9/25 Strategas Securities - Daily Macro Brief PROPRIETARY INFORMATION - ...
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