SpaceX Joins the Nasdaq-100: The Index-Add Trade
SpaceX's fast-tracked Nasdaq-100 add and the giant closing auction that priced it: Matt Levine's account, verified and extended on our own tick tape.
Deep Dives
Forensic, single-subject investigations into individual stocks, events, and market-structure quirks.
The Macro Picture Entering H2 2026, With Receipts
US inflation and the labor market entering H2 2026: headline CPI ran 4.2% in May as core crept, expectations held near anchor, and unemployment improved.
NVDA: NVIDIA's Full June 2026, Tick by Tick
NVIDIA's June 2026 in full: a $235 pre-market peak, a 7.4% slide across 21 sessions, and the fourth-biggest dollar volume on the US tape.
The Month-Ends That Didn't File: an EDGAR Index Gap
Every 2026 month whose last calendar day fell on a weekday is nearly empty in the SEC filing index. The receipts, the diagnosis, and what they understate.
The Best and Worst Thousand Dollars of June 2026
June's best options contract returned 495x; selling that same contract lost 494000 dollars on a thousand of premium. The full hindsight ledger. Not advice.
MU: The Biggest Tape of June 2026
Micron's June 2026: 995.7 billion dollars of regular-hours turnover — the first-ranked tape in the market — while the quarter's repricing cooled to 14 percent.
SPCX: SpaceX's First Month on the Public Market
SpaceX's June 2026 debut as SPCX, receipt by receipt: a delayed opening cross, a top-of-tape dollar-volume run, spread seasoning, day-three options, and shorts.
Microstructure Deep-Dive: June 29, 2026, Tick by Tick
Under the hood of June 29, 2026: the full trade and quote tape, a dictionary-derived volume correction, nanosecond receipts, and a truncated FINRA file.