Goldman Is Seeing Momo FOMO: Retail Call-Buyers, Short-Covering, & A Dash-For-Trash

Index Construction, Retail traders, and Passively allocated equity ownership trends are key drivers of this tape, according to Goldman Sachs flow of funds guru Scott Rubner.

Specifically, he points out that the flows desk is seeing a large increase in retail call options, short covering in anti-momentum factors, and buying in low-quality, all new and accelerating.

However, he is careful to highlight that this is not a market call - just a recap of the trends we are seeing on the desk.