{"id":53993,"date":"2020-07-27T00:10:00","date_gmt":"2020-07-27T04:10:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=53993"},"modified":"2023-02-10T13:33:54","modified_gmt":"2023-02-10T18:33:54","slug":"buckle-up-this-week-could-be-bumpy","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/buckle-up-this-week-could-be-bumpy\/","title":{"rendered":"Buckle Up &#8211; This Week Could Be Bumpy"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Mid-summer is supposed to be a boring time for markets.&nbsp; Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week.&nbsp; Between fiscal negotiations, a Fed meeting, key economic releases, and about 1\/3 of the NASDAQ 100 (NDX) releasing earnings nearly simultaneously, investors will have a plethora of data to process.&nbsp; These events could provide catalysts for market volatility this week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Today is likely to be the calmest of the bunch, as markets await Senate Republicans\u2019 proposal for the next round of fiscal stimulus.&nbsp; Several weeks ago, the Democratic controlled House of Representatives passed a package of roughly $3 trillion, but the Republican controlled Senate has not been able to coordinate a response.&nbsp; The White House and Senate had differing priorities, which were said to be ironed out last week, but differing priorities among the Republican Senate caucus have delayed their bill from mid-last-week to late last-week to a promised late this afternoon.&nbsp; Equity markets are banking upon another round of fiscal stimulus to maintain the economic health of millions of Americans, along with businesses, states and municipalities that are major employers.&nbsp; The last round of fiscal stimulus largely expired this week, and with the two sides reported to be about $2 trillion apart, much will depend upon how the two sides can reconcile their differences.&nbsp; If the Senate proposal is released today (or not), its effects on markets could be felt on Tuesday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Federal Reserve begins a two-day meeting tomorrow, with its results to be released on Wednesday afternoon.&nbsp; Few expect a major change in Fed policy.&nbsp; It is hard to imagine them moving off their near zero Fed Funds target or making any comments that reduce their commitment to remaining vigilant \u2013 especially with fiscal stimulus on the horizon \u2013 but investors will turn to Chairman Powell\u2019s press conference for clues about the central bank\u2019s thinking on the nation\u2019s economic outlook.&nbsp; Remember that the June 10<sup>th<\/sup> press conference was viewed as downbeat, followed by nearly 6% drop in the S&amp;P 500 (SPX) on the subsequent day.&nbsp; Markets rallied after the press conference on April 29<sup>th<\/sup>, only to give back the gains and more in the subsequent two sessions.&nbsp; On Thursday, markets will likely be pricing in their reaction to the Fed press conference while reckoning with a pre-market release of second quarter GDP.&nbsp; Estimates are for a drop of 35% (no, that is not a typo).&nbsp; Many economic releases have exceeded dire consensus forecasts, and we will see if markets are quietly anticipating a similar beat.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wednesday also brings us the political spectacle of a quartet of key tech executives from Apple (AAPL), Amazon (AMZN), Alphabet (GOOG, GOOGL) and Facebook (FB) testifying before the House Judiciary Committee and the Antitrust Subcommittee.&nbsp; The tone of the inquiry could be an important clue to the type of regulatory environment that these companies could face in the coming years.&nbsp; The questioning will be led by House Democrats, and it will be interesting to see whether they take a hostile tone.&nbsp; Since there is currently a likelihood that the Executive branch will change parties, and a possibility that the Senate could change as well, a rocky regulatory path could be facing these market leading companies in 2021 and beyond.&nbsp; In theory, their stock prices should be digesting a potential change in regulatory outlook.&nbsp; In practice, the market currently seems to view them as unassailable.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">That same quartet of key companies will return to the news on Thursday afternoon, as all of them are now scheduled to report earnings after the close (FB moved its date to accommodate the hearing).&nbsp; Putting that afternoon into perspective, those stocks comprise about one-third of NDX and about 15% of SPX.&nbsp; I have <a href=\"https:\/\/www.cnbc.com\/video\/2020\/07\/17\/strategist-if-you-dont-get-perfect-earnings-the-markets-will-penalize-you.html\">stated publicly<\/a> that companies that appear to be priced for perfection can easily disappoint investors after earnings.&nbsp; All these companies carry premium valuations.&nbsp; The valuation premium to the market is even more striking when we consider that their high weighting in SPX helps prop up the index\u2019s valuation. The forward P\/E\u2019s of the companies, along with SPX for comparison, are:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Apple<\/td><td>30.25<\/td><\/tr><tr><td>Alphabet<\/td><td>36.38<\/td><\/tr><tr><td>Amazon<\/td><td>164.79<\/td><\/tr><tr><td>Facebook<\/td><td>31.86<\/td><\/tr><tr><td>S&amp;P 500<\/td><td>25.57<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source: Bloomberg<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We have recently seen similarly highly valued companies like Microsoft (MSFT), Netflix (NFLX) and Tesla (TSLA) plunge after releasing near or above consensus results, while Intel (INTC) was particularly punished for a disappointment.&nbsp; Anything less than stellar results from the quartet expected on Thursday afternoon could severely pressure NDX on Friday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Taking all these events into consideration, it is not surprising that the CBOE Volatility Index (VIX) and the CBOE NDX Volatility Index (VXN) are trading at a premium to recent historical volatility, or that VXN exceeds VIX by over 20%.&nbsp; And while some might find it surprising that spot VIX is exceeded by its August futures, remember that VIX is a 30-day look-ahead.&nbsp; The market is telling us that they expect volatility to increase once the calendar turns to September and beyond.&nbsp;&nbsp; That said, volatility trades still have much to concern themselves with in July, even before the calendar turns to August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mid-summer is supposed to be a boring time for markets.  Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week. These events could provide catalysts for market volatility this week.<\/p>\n","protected":false},"author":4,"featured_media":21171,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[14700,18,6,8,9,22,26,3],"tags":[77,1081,4919,860],"contributors-categories":[13576],"class_list":["post-53993","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ibkr-market-insights","category-macro","category-north-america","category-region","category-securities","category-stocks","category-text-articles","category-traders-insight","tag-fed","tag-nasdaq-100","tag-tech-stocks","tag-volatility","contributors-categories-interactive-brokers"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v28.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Buckle Up &#8211; This Week Could Be Bumpy<\/title>\n<meta name=\"description\" content=\"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/53993\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Buckle Up - This Week Could Be Bumpy | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2020-07-27T04:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-10T18:33:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1150\" \/>\n\t<meta property=\"og:image:height\" content=\"647\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Steve Sosnick\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Steve Sosnick\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Steve Sosnick\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\"\n\t            },\n\t            \"headline\": \"Buckle Up &#8211; This Week Could Be Bumpy\",\n\t            \"datePublished\": \"2020-07-27T04:10:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:33:54+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/\"\n\t            },\n\t            \"wordCount\": 882,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/10\\\/charts-people-e1692981099175.jpg\",\n\t            \"keywords\": [\n\t                \"Fed\",\n\t                \"Nasdaq 100\",\n\t                \"tech stocks\",\n\t                \"volatility\"\n\t            ],\n\t            \"articleSection\": [\n\t                \"IBKR Insights\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Stocks\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/\",\n\t            \"name\": \"Buckle Up - This Week Could Be Bumpy | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/10\\\/charts-people-e1692981099175.jpg\",\n\t            \"datePublished\": \"2020-07-27T04:10:00+00:00\",\n\t            \"dateModified\": \"2023-02-10T18:33:54+00:00\",\n\t            \"description\": \"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/buckle-up-this-week-could-be-bumpy\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/10\\\/charts-people-e1692981099175.jpg\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2019\\\/10\\\/charts-people-e1692981099175.jpg\",\n\t            \"width\": 1150,\n\t            \"height\": 647\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/31988d9596575a63ddc53e92049a2549\",\n\t            \"name\": \"Steve Sosnick\",\n\t            \"description\": \"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.\",\n\t            \"sameAs\": [\n\t                \"https:\\\/\\\/ibkr.com\"\n\t            ],\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/steve-sosnick\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Buckle Up &#8211; This Week Could Be Bumpy","description":"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/53993\/","og_locale":"en_US","og_type":"article","og_title":"Buckle Up - This Week Could Be Bumpy | IBKR Campus US","og_description":"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/","og_site_name":"IBKR Campus US","article_published_time":"2020-07-27T04:10:00+00:00","article_modified_time":"2023-02-10T18:33:54+00:00","og_image":[{"width":1150,"height":647,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","type":"image\/jpeg"}],"author":"Steve Sosnick","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Steve Sosnick","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/"},"author":{"name":"Steve Sosnick","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549"},"headline":"Buckle Up &#8211; This Week Could Be Bumpy","datePublished":"2020-07-27T04:10:00+00:00","dateModified":"2023-02-10T18:33:54+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/"},"wordCount":882,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","keywords":["Fed","Nasdaq 100","tech stocks","volatility"],"articleSection":["IBKR Insights","Macro","North America","Region","Securities","Stocks","Text Articles","Traders' Insight"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/","name":"Buckle Up - This Week Could Be Bumpy | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","datePublished":"2020-07-27T04:10:00+00:00","dateModified":"2023-02-10T18:33:54+00:00","description":"Mid-summer is supposed to be a boring time for markets. Maybe that will be the case during August, but first, the markets need to run a gauntlet of news this week.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/buckle-up-this-week-could-be-bumpy\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","width":1150,"height":647},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/31988d9596575a63ddc53e92049a2549","name":"Steve Sosnick","description":"Steve is the Chief Strategist at Interactive Brokers. He has held numerous roles in the organization since joining Timber Hill, IBKR\u2019s predecessor, in 1995 as Equity Risk Manager and an options market maker. He developed and implemented automated trading strategies for stocks and options before moving into his current role. Steve has guest authored several columns in Barron\u2019s and made numerous live on Bloomberg TV and Radio, CNBC, Yahoo Finance, Fox Business, and several other media outlets in North America, Asia, Australia, and the Middle East in addition to being quoted frequently in print and electronic media. Prior to joining Interactive Brokers, Sosnick held senior trading roles at Morgan Stanley, Lehman Brothers, and Salomon Brothers, where he completed the firm\u2019s famed training program.","sameAs":["https:\/\/ibkr.com"],"url":"https:\/\/www.interactivebrokers.com\/campus\/author\/steve-sosnick\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2019\/10\/charts-people-e1692981099175.jpg","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/53993","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=53993"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/53993\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/21171"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=53993"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=53993"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=53993"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=53993"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}