That's the asymmetry. With FXI and ASHR vol at multi-month lows, the cheap optionality lives in the 72 hours after, not the handshake itself. Four of the last five Xi-Trump meetings produced >1σ SPY moves. Direction varied; the calm going in rarely survived the week.
in short the summit could be a sell news event, with a relief rally at first with the music stopping after the summit?
two to watch after the summit towards month-end: the ceasefire with iran, and putin's visit.
That's the asymmetry. With FXI and ASHR vol at multi-month lows, the cheap optionality lives in the 72 hours after, not the handshake itself. Four of the last five Xi-Trump meetings produced >1σ SPY moves. Direction varied; the calm going in rarely survived the week.