Brent Kochuba of SpotGamma makes a subtle point about what rising rates have actually done. They have not shifted equity volatility at all. What they changed is behavior: call buying has contracted hard, as traders who were bullish simply backed off upside bets rather than flipping to the downside. The result is a market still holding real right-tail risk, with realized vol to the upside running higher than to the downside, the kind of behavior you do not see when a market is about to roll over. 📊 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 The Gamma Guy joins 00:30 Brazil stocks and exploding call skew 01:40 NVIDIA IV rank near zero 02:10 SpaceX breaking out 02:40 The short put to finance a long call 03:30 No one moves a meme like Elon 04:00 Rates didn't change vol, they kill...