Options flow recaps & market notes

Between 6.0 and 6.9 million BTC sit in addresses with public keys already exposed on-chain. Post-quantum migration has barely started. Read →

Deadline moves change run environments and bullpen leverage within a day or two. Prop and win-total markets tend to take longer to catch up. Read →

Benchmark finished 4.66–4.68%. 30-year still near a 19-year high after the post-FOMC selloff. Read →

NYT: Chair raised idea of cutting the eight-meeting cadence. 30-year near 19-year high after the July hold. Read →

+1,001.89 points. SK Hynix limit-up, Samsung +26%, foreign buying ₩7.2T. Chip rebound erased three days of losses. Read →

Flash HICP 2.9% from 2.8%. Energy 10.0%, core 2.5%. Iran oil still feeding through. Read →

Ethereum +20%, Bitcoin +9%. Chip stocks −22%, Nasdaq −9%. The relative strength was quiet. Read →

Europe’s 55 associations unanimously reject FIFA’s $20 billion commercial subsidiary. Boycott threat covers every FIFA competition. Read →

Largest one-day gain in 15 months. SanDisk +26%, Micron +18%. Microsoft Azure and Samsung memory shortage warning. Read →

WSJ: executives told to prepare for separation of China business. Spinoff, sale, or closure on the table for a SpaceX firewall. Read →

Microsoft proved the spend can convert. Meta raised the bill. Tonight Amazon and Apple report into that exact split. Read →

30-year Treasury at 5.23–5.24%, highest since 2007. The long end is doing the tightening the Fed declined to deliver. Read →

Brent pushed back above $90 after U.S. retaliatory strikes. Inventories tight, Strait risk still priced. Read →

Forced liquidation of the entire public equity book under margin pressure. WSJ: Citadel bought the bulk. Read →

Microsoft delivered a clean beat: $90B revenue (+18%), Azure +43%, EPS $4.81. Meta beat revenue but missed EPS on $2.4B charges, raised 2026 capex, and sold off 7–8% after-hours. Read →

Three FOMC members voted for a 25 bp hike. Chair Warsh rejected any softened inflation target. 30-year yield punched above 5.2%, highest since 2007. Read →

Training-camp absences and limited-participation reports are already shifting season-win totals and player prop lines before the preseason starts. Read →

SPCX has fallen from a post-IPO peak of $225.64 to $116.41, a 48.4% drawdown, seven weeks after the largest IPO in history. The mechanics matter more than the headline. Read →

Across 300 recorded insider transactions in 15 large caps since March, 129 are open-market sales and exactly two carry a purchase code. One of those two reduces the holder's position. Read →

Johnson & Johnson agreed to pay $5.5 billion to resolve talc claims. The headline number is the least informative part: the deal is contingent on 95% acceptance, and the total is not capped. Read →

Korean trading halts, SK Hynix down sharply, US futures lower. The move that started as a question about AI spending now carries a competitive driver, and the two do not resolve the same way. Read →

Seven House members filed 24 transactions between July 20 and 27, 2026. All complied with the 45-day rule. The gap between being notified of a trade and disclosing it ranged from zero days to 26. Read →

Brent hit $100 before retreating. Big Tech's $725bn AI spend runs through power-constrained data centres. The two are the same trade. Read →

Greer says the new Section 301 tariffs won't move the economy or the Fed. USTR's own coverage figure is 99.4% of imports. Read →