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QCP Asia and London Colour
QCP Capital
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  • Overnight news (see above) took a complacent market by surprise (at least those that didn’t read the QCP broadcast yesterday)
  • If approved, this move is far from over with ETH at 4k as a natural short term target and at 5k for later in the year
  • ⁠If not approved, we could expect an ugly move back to 3k
  • ⁠This uncertainty has resulted in higher volatility, but the better trade might be spot-futures basis which is now yielding above 10% again

Trade Idea:

  1. Sell Spot-Forward Basis The market has given us another chance to lock in double digit annualized yields from June onwards.
Chart 1
Source: Chart 1
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QCP London and New York Colour
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