Ahead Of This Week's Earnings, This Is Where Hedge Fund Positioning Is Most Extreme

Last week, as Q3 earnings season kicked into high gear, we wrote that in this environment of outsized reactions to earnings, where kneejerk trades are driven as much by positioning and technicals as fundamentals, many were wondering where trader exposure is most aggressive, and therefore, where the potential for disappointment is highest. In response, we showed which companies had the most outsized hedge fund positioning ahead of week 2 earnings.

Fast forwarding to today, when some 20% of the S&P are set to report earnings in week 3 of earnings season...