) was primarily responsible for the day’s gain, rising by more than 7% on the day and basically carrying the entire day for the index.) was down 41 bps. So, it was a much different day when moving away from the market cap-heavy S&P 500.Today’s CPI report and the FOMC meeting will offer an implied volatility crush, with the CPI report likely delivering a more brief reaction as IV is rebuilt heading to the 2 PM ET FOMCstarts at 2:35 to 2:40 when Powell finishes the prepared remarks.
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