The bears are not retreating…

This morning from Bloomberg…
The bears are not retreating. $SPX pic.twitter.com/iRz80jopO9

— Ayesha Tariq, CFA (@ayeshatariq) August 15, 2022

Strong rally not yet deterring hedge funds as they continue to increase short positions in S&P 500 futures … positioning is most net short since summer 2020 pic.twitter.com/vc2iKnqofl

— Liz Ann Sonders (@LizAnnSonders) August 15, 2022

Last week, the S&P 500 rose more than 3%.

And yet…small options traders bought FEWER calls to open and bought MORE puts during the week.

This is the first week since 2009 when retail traders fought a > 3% weekly rally to this degree.

— Jason Goepfert (@jasongoepfert) August 15, 2022