​Thursday, July 2 – JPM Boss To CS; CalPERS To Show Carried Interest

Some big VIX prints in the listed markets finished out the U.S. trading week today, with some call selling hitting the screens at various prices, while one investor bought the July 18/25 1×3 call spread buying one 20,000x/60,000. But, according to one trader, the story of the day should be why vols are so high in both the SPX and VIX? Is this being driven by the Greek referendum? Also late today in the U.S., CalPERS revealed plans to start disclosing the amount of carried interest it pays to general partners in the over 700 private equity funds it invests in, continuing the fund’s battle against high fees. In Europe, owning call spreads in the SX7E appear attractive. The view is that a positive outcome in the situation in Greece would lead to the SX7E outperforming the SX5E in the short-term. To all our readers in the U.S., have a great Independence Day long weekend! Stay safe on the roads. To our British readers, spend the time contemplating what you’ve lost.