Jamie Dimon made headlines saying he would not buy the broad US market or long dated treasuries at today's prices, and the math is blunt. About 100 dollars in stocks is expected to earn 4.90 next year while a 10 year treasury pays roughly 4.60, only about 30 cents of extra reward for taking all the stock market risk. So the team checks the options tape to see if traders agree. With the VIX near 20 and the eight day SPX implied move around 150 points, the skew is the tell: an equidistant downside put costs about four times its matching upside call. The market is not pricing euphoria into earnings, it is pricing fear of a fast move lower. 📊 tastylive: tastylive.com 📰 Get Tom's pre-market analysis every morning: tastylive.com/newsletters 📘 FREE Options Strategy Guide: tinyurl.com/bp9ms763 📱 Follow tastylive on X: x.com/tastyliveshow Chapters 00:00 Jamie Dimon and the 30 cent math 01:24 A wild sell off and bonds at lows 02:58 Google, IBM and ...