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"This Is Like Free Money" Jeff Gundlach Bought S&P Puts At VIX Lows

DoubleLine Capital's Jeffrey Gundlach tells Reuters that his firm bought some five-month put options on the S&P 500 a couple of days ago after VIX fell to lowest since December 1993.

“This is like free money,” Jeffrey Gundlach said in phone interview with Reuters, noting that he lost money the first day but now is “doing great.”

“We are in a seasonally weak period for stocks but more importantly, we think the VIX was really, really low. So the S&P puts are going long volatility”

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Additionally, Gundlach tweeted overnight about copper (and its bearish implications for Treasuries)...

"Copper/Gold ratio soaring to the high of the year!"...

"Not good news for the "1.50% 10 year" crowd. Neither is 10 year Bund holding above 50 bp."

So, it appears Gundlach is bearish stocks and bonds... which is the direction they both traded today.