Tl;dr: Oil oscillations took a back seat to Korean carnage today as the flapping of levered ETF  butterflies triggered a tornado in US big-tech (led by Semis), dragging down Nasdaq (Dow green though). Heavy negative delta 0-DTE flow today. Bonds (mixed macro) and the dollar were bid as Bitcoin and bullion were dumped again.

The question on everyone's lips: Are levered Korean retail traders the US Tech boom Giant killer?

Oil