There is no risk management here, it is just selling puts en masse searching for extra returns after the market has already moved significantly and vols are relatively low. The extremely low dividend yields and fixed income returns makes people chase returns in what as advertised as relatively safe strategies. That is a good sign of losses to come. The better play would be to ride the upward wave these buy and hold firms ride on and partially hedge with puts or various VIX strategies. I think selling puts in a buy and hold portfolio adds more uneeded risk when you are just a long only fund like these funds are.
Based on the posts just prior to my question, I was thinking on an intraday timeframe. Anyway, your answer makes total sense. I am mystified how you discovered this FX cross-rate correlates with the down moves on ES. Most traders would not run correlation studies across different asset classes. Of course, you sir are not "most traders".
Of the US I take it? Keep me posted on any meet ups might be able to make it somehow. I have been in Slovakia this week visiting family, the High Tatra mountains are stunning here, well worth the visit if you ever get the chance.
Could be coincidence but I'm noticing that stocks with the weakest number lines are those dependent upon government spending...LMT, TSLA, lot of big biotechs.
TSLA continuing to get slammed...think we finally may get a prolonged down move in the S&P for the first time in months...anyone seeing differently?