Disclaimer
This is for informational purposes only.
Discussion
Trade 1: Sold the SPY calls, and bought 0DTE QQQ $370 puts.
Rationale 1: Defensives are bid this morning in the wake of CPI and VVIX is not down as much as VIX. While HY CDX is confirming the broader move higher in equities and the move lower in VOL, I believe we retest the lows from yesterday to test buyer conviction before ultimately moving higher into EOD.