I don't know about that pe is like 7 not bad, also with everyone hatin on the squid makes a good contrarian play. I would assume small hedgies are loving any type of volatility. Anyhow, es printing 1200 seems like fair value.
Here is a video by a trader about market delta, that said around minute 11 this guy gives one of the best explanations of how markets function I have ever heard. Maybe old news to some but this should make a light bullb go for someone. Good trading. (jpj trading follow up discussion mi 11)