http://Greeks.Live Community Daily Digest Published: 2025-04-03 Overall Market Sentiment The group is predominantly bearish following Trump's tariff announcement of 10% blanket tariffs and 25% on auto, which was lower than market expectations but still seen as negative overall. Key levels being watched are 83-87 which was previously a support zone, and there's consensus that 85.2 was the first liquidation level that got triggered during the initial pump. Tariffs Impact and Market Dynamics • Trump's tariffs are viewed as severe trade disruption, particularly the shipping vessels tariff which could make port calls 1M more expensive and significantly disrupt global supply chains • The market's initial positive reaction with a price spike to 88 was seen as gambling/short covering, followed by a sharp reversal as reality set in about economic impacts • Options flow remains heavily bearish with traders noting significant put buying, including "700 79k puts for end of April" • Traders anticipate continued volatility and chop followed by a bad close on Friday, potentially below 83 which would erase the entire pump • Many traders are positioned short calls or holding put calendars, with consensus that shorting calls remains the most effective strategy in the current environment