Implied volatilities were mixed as renewed Strait of Hormuz tensions drove oil volatility higher. The OVX Index rose ~3 points to ~44% after six weeks of declines, coinciding with oil prices jumping on Iran headlines. Meanwhile, chip stocks rebounded after recent weakness, partially offsetting the risk tone.
Implied volatilities were mixed as renewed Strait of Hormuz tensions drove oil volatility higher. The OVX Index rose ~3 points to ~44% after six weeks of declines, coinciding with oil prices jumping on Iran headlines. Meanwhile, chip stocks rebounded after recent weakness, partially offsetting the risk tone.
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mildly negative
Sentiment Score
-0.15
