GDP Growth Rate QoQ Prel: -2% (prev: -3.8%)

The preliminary GDP print just landed at negative two percent quarter-over-quarter. That is a clear improvement from the prior reading of negative three point eight percent, yet still reflects a sharper contraction than many hoped for in this cycle. Markets are now pricing higher tail risk as this data underscores continued economic fragility and policy-driven headwinds.

For Iron Condor traders this is the exact environment where volatility regimes expand fast. With VIX data going dark, our ALVH overlay has activated real-time monitoring while RSAi is dynamically shifting strikes to protect positions against the widened bands.

Watch the reaction in the next hour as traders digest whether this improves the fragility curve or simply delays the next leg lower.
Stay tuned — Russell Clark's end-of-market story is coming up after the close.