For the first time in many days, MS has dropped a major block from their advertised SPY trading report. In what could be turning point for the "second derivative" of after hours weirdness, today Morgan Stanley advertised "only" two 10 million blocks at 6:41pm, unlike the 30 million SPYs traded by MS day after day. Could this be i) the end of the deleveraging of PDT, ii) the end of deleveraging of (insert favorite Quant here), iii) the decline in ETF creation or iv) who the hell knows...
Regardless, there might have been a significant disturbance in the force today. We shall see if it persists.
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