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\u06c1\u06d2\u061f<\/p>\n<p>\u0628\u0631\u0627\u0688 \u0627\u0633\u0679\u0627\u06a9\u0633 (SPY, QQQ, IWM) \u0633\u06cc\u0644 \u0622\u0641 \u06a9\u0627 \u067e\u06cc\u0645\u0627\u0646\u06c1 \u0638\u0627\u06c1\u0631 \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba \u0627\u0648\u0631 \u06a9\u0648\u0646 \u0633\u06d2 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06cc\u067e\u0679\u0644\u0627\u0626\u0632\u06cc\u0634\u0646 \u06a9\u06d2 \u0634\u0639\u0628\u06d2 \u0633\u0628 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u0645\u062a\u0627\u062b\u0631 \u06c1\u0648\u0626\u06d2\u06d4 \u0633\u06cc\u06a9\u0679\u0631 ETFs (XLE, XLF, ITA, XLK) \u0638\u0627\u06c1\u0631 \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba \u06a9\u06c1 \u0645\u0639\u0627\u0634\u06cc \u0646\u062a\u0627\u0626\u062c \u06a9\u06cc \u0642\u06cc\u0645\u062a \u06a9\u06c1\u0627\u06ba \u06c1\u06d2\u06d4 \u062a\u0648\u0627\u0646\u0627\u0626\u06cc\u060c \u0645\u0627\u0644\u06cc\u0627\u062a\u060c \u062f\u0641\u0627\u0639 \u0627\u0648\u0631 \u0679\u06cc\u06a9\u0646\u0627\u0644\u0648\u062c\u06cc \u06c1\u0631 \u0627\u06cc\u06a9 \u062c\u06be\u0679\u06a9\u06d2 \u06a9\u06cc \u0646\u0648\u0639\u06cc\u062a \u06a9\u06d2 \u0644\u062d\u0627\u0638 \u0633\u06d2 \u0645\u062e\u062a\u0644\u0641 \u0631\u062f \u0639\u0645\u0644 \u0638\u0627\u06c1\u0631 \u06a9\u0631\u062a\u06cc \u06c1\u06d2\u06d4 \u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1\u06cc\u06ba (GLD\u060c TLT\u060c UUP) \u0633\u0628 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u062a\u0634\u062e\u06cc\u0635\u06cc \u06c1\u06cc\u06ba\u06d4 \u0633\u0648\u0646\u0627\u060c \u0628\u0627\u0646\u0688\u0632\u060c \u0627\u0648\u0631 \u0688\u0627\u0644\u0631 \u0627\u0633\u0679\u0627\u06a9 \u06a9\u06d2 \u0645\u0642\u0627\u0628\u0644\u06d2 \u0645\u06cc\u06ba \u06a9\u0633 \u0637\u0631\u062d \u06a9\u0627\u0631\u06a9\u0631\u062f\u06af\u06cc \u06a9\u0627 \u0645\u0638\u0627\u06c1\u0631\u06c1 \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba \u06c1\u0645\u06cc\u06ba \u0628\u062a\u0627\u062a\u0627 \u06c1\u06d2 \u06a9\u06c1 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u0633 \u0642\u0633\u0645 \u06a9\u06d2 \u062e\u0648\u0641 \u06a9\u0627 \u0627\u0638\u06c1\u0627\u0631 \u06a9\u0631 \u0631\u06c1\u06cc \u06c1\u06d2\u06d4 VIXY \u0645\u0636\u0645\u0631 \u0627\u062a\u0627\u0631 \u0686\u0691\u06be\u0627\u0624 \u06a9\u0648 \u0628\u0631\u0627\u06c1 \u0631\u0627\u0633\u062a \u0679\u0631\u06cc\u06a9 \u06a9\u0631\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<p>\u0627\u06cc\u06a9 \u0633\u0627\u062a\u06be\u060c \u06cc\u06c1 11 \u0627\u062b\u0627\u062b\u06d2 \u06c1\u0631 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0641\u0646\u06af\u0631 \u067e\u0631\u0646\u0679 \u0628\u0646\u0627\u062a\u06d2 \u06c1\u06cc\u06ba\u06d4<\/p>\n<p>\u06c1\u0645 \u0646\u06d2 EODHD \u06a9\u06d2 \u062a\u0627\u0631\u06cc\u062e\u06cc EOD API \u0633\u06d2 \u0688\u06cc\u0679\u0627 \u062d\u0627\u0635\u0644 \u06a9\u06cc\u0627\u06d4 \u06c1\u0631 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u0648 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06cc \u062a\u0627\u0631\u06cc\u062e \u06a9\u06d2 \u062f\u0648\u0646\u0648\u06ba \u0637\u0631\u0641 30 \u062f\u0646 \u06a9\u06cc \u0645\u062f\u062a \u062f\u06cc \u062c\u0627\u062a\u06cc \u06c1\u06d2\u06d4<\/p>\n<pre><code class=\"language-python\">import requests\nimport pandas as pd\nimport numpy as np\nimport plotly.graph_objects as go\nfrom plotly.subplots import make_subplots\n\napi_key = 'your_eodhd_api_key'\n\nevents = {\n    'oct7_attack': {\n        'date': '2023-10-07',\n        'label': 'Hamas Attack on Israel (Oct 2023)',\n        'shock_type': 'confidence',\n        'shock_label': 'Type 1 - Confidence Shock'\n    },\n    'yen_carry_unwind': {\n        'date': '2024-08-05',\n        'label': 'Yen Carry Unwind + Middle East Escalation (Aug 2024)',\n        'shock_type': 'liquidity',\n        'shock_label': 'Type 2 - Liquidity Shock'\n    },\n    'tariff_shock': {\n        'date': '2025-04-03',\n        'label': 'US-China Tariff Shock (Apr 2025)',\n        'shock_type': 'structural',\n        'shock_label': 'Type 3 - Structural Shock'\n    }\n}\n\nassets = {\n    'spy': 'SPY.US', 'qqq': 'QQQ.US', 'iwm': 'IWM.US',\n    'xle': 'XLE.US', 'xlf': 'XLF.US', 'ita': 'ITA.US',\n    'xlk': 'XLK.US', 'gld': 'GLD.US', 'tlt': 'TLT.US',\n    'uup': 'UUP.US', 'vixy': 'VIXY.US'\n}\n\ndef fetch_prices(ticker, start, end):\n    url = f'https:\/\/eodhd.com\/api\/eod\/{ticker}'\n    params = {\n        'from': start,\n        'to': end,\n        'api_token': api_key,\n        'fmt': 'json'\n    }\n    r = requests.get(url, params=params)\n    df = pd.DataFrame(r.json())\n    df['date'] = pd.to_datetime(df['date'])\n    df = df.set_index('date')[['adjusted_close']]\n    df.columns = [ticker.split('.')[0].lower()]\n    return df\n\ndef fetch_event_prices(event_date, lookback=30, lookahead=30):\n    start = (pd.Timestamp(event_date) - pd.Timedelta(days=lookback)).strftime('%Y-%m-%d')\n    end = (pd.Timestamp(event_date) + pd.Timedelta(days=lookahead)).strftime('%Y-%m-%d')\n    frames = [fetch_prices(ticker, start, end) for ticker in assets.values()]\n    return pd.concat(frames, axis=1)\n\nevent_prices = {name: fetch_event_prices(e['date']) for name, e in events.items()}\n\nevent_prices.keys()\n<\/code><\/pre>\n<p>\u06cc\u06c1 \u06c1\u0645\u06cc\u06ba \u062a\u06cc\u0646 \u0688\u06cc\u0679\u0627 \u0641\u0631\u06cc\u0645 \u062f\u06cc\u062a\u0627 \u06c1\u06d2\u060c \u0627\u06cc\u06a9 \u0641\u06cc \u0627\u06cc\u0648\u0646\u0679\u060c \u06c1\u0631 \u0627\u06cc\u06a9 11 \u06a9\u0627\u0644\u0645\u0648\u06ba \u0627\u0648\u0631 \u062a\u0642\u0631\u06cc\u0628\u0627\u064b 60 \u0642\u0637\u0627\u0631\u0648\u06ba \u06a9\u06d2 \u0633\u0627\u062a\u06be\u060c \u067e\u0648\u0631\u06cc \u0648\u0646\u0688\u0648 \u06a9\u0627 \u0627\u062d\u0627\u0637\u06c1 \u06a9\u0631\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<pre><code class=\"language-plaintext\">dict_keys(['oct7_attack', 'yen_carry_unwind', 'tariff_shock'])\n<\/code><\/pre>\n<p>\u062a\u0645\u0627\u0645 \u0642\u06cc\u0645\u062a\u0648\u06ba \u06a9\u0648 \u0642\u0631\u06cc\u0628 \u0633\u06d2 \u0627\u06cc\u0688\u062c\u0633\u0679 \u06a9\u06cc\u0627 \u062c\u0627\u062a\u0627 \u06c1\u06d2\u060c \u0644\u06c1\u0630\u0627 \u06a9\u0633\u06cc \u0628\u06be\u06cc \u062a\u0642\u0633\u06cc\u0645 \u06cc\u0627 \u0688\u06cc\u0648\u06cc\u0688\u0646\u0688 \u06a9\u06cc \u062a\u062d\u0631\u06cc\u0641 \u06a9\u0648 \u0635\u0627\u0641 \u0637\u0648\u0631 \u067e\u0631 \u0634\u0645\u0627\u0631 \u06a9\u06cc\u0627 \u062c\u0627\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<h2 id=\"heading-the-repricing-sequence-engine\">\u0642\u06cc\u0645\u062a \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u062a\u0631\u062a\u06cc\u0628 \u0627\u0646\u062c\u0646<\/h2>\n<p>\u06c1\u0631 \u0648\u0627\u0642\u0639\u06c1 \u06a9\u0648 \u0627\u0646\u0641\u0631\u0627\u062f\u06cc \u0637\u0648\u0631 \u067e\u0631 \u062f\u06cc\u06a9\u06be\u0646\u06d2 \u0633\u06d2 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\u0644\u0627\u062a\u06d2 \u06c1\u06cc\u06ba \u062a\u0627\u06a9\u06c1 \u0627\u0633 \u0628\u0627\u062a \u06a9\u0648 \u06cc\u0642\u06cc\u0646\u06cc \u0628\u0646\u0627\u06cc\u0627 \u062c\u0627 \u0633\u06a9\u06d2 \u06a9\u06c1 \u0627\u062b\u0627\u062b\u0648\u06ba \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0645\u0648\u0627\u0632\u0646\u06c1 \u0648\u0627\u0636\u062d \u06c1\u06d2\u060c \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u0627\u0631\u062f \u06af\u0631\u062f \u0633\u062e\u062a \u0631\u06cc\u0646\u062c\u0632 \u06a9\u0648 \u062a\u0642\u0633\u06cc\u0645 \u06a9\u0631\u06cc\u06ba\u060c \u0627\u0648\u0631 \u0642\u06cc\u0645\u062a\u0648\u06ba \u0645\u06cc\u06ba \u062a\u06cc\u0632 \u062a\u0631\u06cc\u0646 \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u0648\u0627\u0644\u06d2 \u0627\u0641\u0631\u0627\u062f \u06a9\u06cc \u0634\u0646\u0627\u062e\u062a \u06a9\u0631\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 T+1 \u0645\u0648\u0648\u0645\u0646\u0679 \u0633\u0627\u0626\u0632 \u06a9\u06d2 \u062d\u0633\u0627\u0628 \u0633\u06d2 \u0627\u062b\u0627\u062b\u0648\u06ba \u06a9\u06cc \u062f\u0631\u062c\u06c1 \u0628\u0646\u062f\u06cc \u06a9\u0631\u06cc\u06ba\u06d4<\/p>\n<pre><code class=\"language-python\">def normalize_to_event(df, event_date):\n    event_date = pd.Timestamp(event_date)\n    valid_dates = df.index[df.index >= event_date]\n    anchor = valid_dates[0]\n    normalized = df.div(df.loc[anchor]) * 100\n    return normalized, anchor\n\ndef get_event_window(df, anchor, t_minus=5, t_plus=10):\n    start_idx = df.index.get_loc(anchor) - t_minus\n    end_idx = df.index.get_loc(anchor) + t_plus\n    start_idx = max(start_idx, 0)\n    return df.iloc[start_idx:end_idx + 1]\n\ndef repricing_leaderboard(window_df, anchor):\n    anchor_idx = window_df.index.get_loc(anchor)\n    post_event = window_df.iloc[anchor_idx:]\n    cumulative_returns = (post_event \/ post_event.iloc[0] - 1) * 100\n    t1_moves = cumulative_returns.iloc[1].abs().sort_values(ascending=False)\n    return cumulative_returns, t1_moves\n\nevent_windows = {}\nleaderboards = {}\n\nfor name, meta in events.items():\n    df = event_prices[name]\n    normalized, anchor = normalize_to_event(df, meta['date'])\n    window = get_event_window(normalized, anchor)\n    cumret, t1_rank = repricing_leaderboard(window, anchor)\n    event_windows[name] = {'window': window, 'anchor': anchor, 'cumret': cumret}\n    leaderboards[name] = t1_rank\n    print(f\"n{meta['label']}\")\n    print(f'anchor date: {anchor.date()}')\n    print('T+1 move ranking:')\n    print(t1_rank.round(2))\n<\/code><\/pre>\n<p><strong>\u062d\u0633\u0627\u0628 \u06a9\u062a\u0627\u0628:<\/strong><\/p>\n<pre><code class=\"language-plaintext\">Hamas Attack on Israel (Oct 2023)\nanchor date: 2023-10-09\nT+1 move ranking:\nvixy    3.35\niwm     1.13\nxlf     0.73\nita     0.72\nqqq     0.55\nspy     0.52\nuup     0.24\ngld     0.17\nxlk     0.15\ntlt     0.14\nxle     0.12\nName: 2023-10-10 00:00:00, dtype: float64\n\nYen Carry Unwind + Middle East Escalation (Aug 2024)\nanchor date: 2024-08-05\nT+1 move ranking:\nvixy    20.52\ntlt      2.24\nxlf      1.62\nxlk      1.36\niwm      1.09\nqqq      0.96\nspy      0.92\ngld      0.80\nxle      0.61\nita      0.57\nuup      0.32\nName: 2024-08-06 00:00:00, dtype: float64\n\nUS-China Tariff Shock (Apr 2025)\nanchor date: 2025-04-03\nT+1 move ranking:\nvixy    19.97\nxle      9.20\nita      8.44\nxlf      7.32\nxlk      6.59\nqqq      6.21\nspy      5.85\niwm      4.46\ngld      2.34\nuup      1.11\ntlt      1.09\nName: 2025-04-04 00:00:00, dtype: float64\n<\/code><\/pre>\n<p>VIXY T+1 \u0645\u06cc\u06ba \u062a\u06cc\u0646\u0648\u06ba \u0627\u06cc\u0648\u0646\u0679\u0633 \u06a9\u06cc \u0642\u06cc\u0627\u062f\u062a \u06a9\u0631 \u0631\u06c1\u0627 \u06c1\u06d2\u06d4 \u0627\u062a\u0627\u0631 \u0686\u0691\u06be\u0627\u0624 \u06a9\u06cc \u0648\u062c\u06c1 \u0633\u06d2 \u0642\u06cc\u0645\u062a\u06cc\u06ba \u06a9\u0633\u06cc \u0628\u06be\u06cc \u0686\u06cc\u0632 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u062a\u06cc\u0632\u06cc \u0633\u06d2 \u0628\u0691\u06be \u062c\u0627\u062a\u06cc \u06c1\u06cc\u06ba\u06d4 \u062a\u0627\u06c1\u0645\u060c \u0627\u06af\u0631 \u0622\u067e Vixi \u06a9\u0648 \u062e\u0627\u0631\u062c \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba\u060c \u062a\u0648 \u062f\u0631\u062c\u06c1 \u0628\u0646\u062f\u06cc \u0628\u0627\u0644\u06a9\u0644 \u0645\u062e\u062a\u0644\u0641 \u06c1\u0648\u062a\u06cc \u06c1\u06d2\u06d4<\/p>\n<p>\u062d\u0645\u0627\u0633 \u06a9\u06d2 \u062d\u0645\u0644\u06d2 \u0645\u06cc\u06ba \u0645\u062c\u0645\u0648\u0639\u06cc \u0637\u0648\u0631 \u067e\u0631 \u062a\u062d\u0631\u06cc\u06a9 \u0686\u06be\u0648\u0679\u06cc \u062a\u06be\u06cc\u06d4 VIXY \u06a9\u06d2 \u0639\u0644\u0627\u0648\u06c1\u060c \u0633\u0628 \u0633\u06d2 \u0628\u0691\u06cc \u062a\u0628\u062f\u06cc\u0644\u06cc IWM \u062a\u06be\u06cc\u060c \u062c\u0648 1.13% \u062a\u06be\u06cc\u06d4 \u06cc\u0646 \u06a9\u06cc\u0631\u06cc \u0627\u0646 \u0648\u0627\u0626\u0646\u0688 \u0645\u06cc\u06ba\u060c TLT 2.24% \u067e\u0631 \u062f\u0648\u0633\u0631\u0627 \u0633\u0628 \u0633\u06d2 \u0628\u0691\u0627 \u0645\u0648\u0648\u0631 \u062a\u06be\u0627\u060c \u0628\u0627\u0646\u0688\u0632 \u0646\u06d2 \u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1\u0648\u06ba \u06a9\u06d2 \u0637\u0648\u0631 \u067e\u0631 \u0633\u062e\u062a \u0628\u0648\u0644\u06cc \u0644\u06af\u0627\u0626\u06cc\u06d4 \u0679\u06cc\u0631\u0641 \u06a9\u06d2 \u0627\u062b\u0631\u0627\u062a \u06a9\u06cc \u0648\u062c\u06c1 \u0633\u06d2 \u062a\u0645\u0627\u0645 \u0627\u06cc\u06a9\u0648\u06cc\u0679\u06cc \u0633\u06cc\u06a9\u0679\u0631\u0632 \u0645\u06cc\u06ba 4% \u0633\u06d2 9% \u06a9\u0627 \u0627\u0636\u0627\u0641\u06c1 \u06c1\u0648\u0627\u060c \u062c\u0628\u06a9\u06c1 TLT \u0645\u06cc\u06ba 1.09% \u0627\u0648\u0631 \u0633\u0648\u0646\u06d2 \u06a9\u06cc \u0642\u06cc\u0645\u062a \u0645\u06cc\u06ba 2.34% \u06a9\u0627 \u0627\u0636\u0627\u0641\u06c1 \u06c1\u0648\u0627\u06d4<\/p>\n<p>\u062a\u06cc\u0646 \u0645\u06a9\u0645\u0644 \u0637\u0648\u0631 \u067e\u0631 \u0645\u062e\u062a\u0644\u0641 \u0642\u06cc\u0645\u062a\u0648\u06ba \u06a9\u06d2 \u062f\u0631\u062c\u0627\u062a \u06a9\u06d2 \u0633\u0627\u062a\u06be \u062a\u06cc\u0646 \u0627\u06cc\u0648\u0646\u0679\u0633\u06d4 \u0635\u0631\u0641 T+1 \u0644\u06cc\u0688\u0631 \u0628\u0648\u0631\u0688 \u06c1\u06cc \u0622\u067e \u06a9\u0648 \u0628\u0627\u0645\u0639\u0646\u06cc \u0628\u0635\u06cc\u0631\u062a \u0641\u0631\u0627\u06c1\u0645 \u06a9\u0631 \u0633\u06a9\u062a\u0627 \u06c1\u06d2 \u06a9\u06c1 \u06c1\u0631 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06cc \u0627\u0635\u0644 \u0642\u06cc\u0645\u062a \u06a9\u06cc\u0627 \u06c1\u06d2\u06d4<\/p>\n<p>7 \u0627\u06a9\u062a\u0648\u0628\u0631 \u0627\u06cc\u0646\u06a9\u0631\u0632 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0646\u0648\u0679: \u062d\u0645\u0644\u06c1 \u06c1\u0641\u062a\u06c1 \u06a9\u0648 \u06c1\u0648\u0627\u06d4 \u0686\u0648\u0646\u06a9\u06c1 \u067e\u06c1\u0644\u0627 \u062a\u062c\u0627\u0631\u062a\u06cc \u062f\u0646 \u067e\u06cc\u0631\u060c 9 \u0627\u06a9\u062a\u0648\u0628\u0631 \u062a\u06be\u0627\u060c \u0627\u0633 \u0644\u06cc\u06d2 \u062d\u0648\u0627\u0644\u06c1 \u06a9\u06cc \u062a\u0627\u0631\u06cc\u062e 9 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06c1\u06d2\u060c 7 \u0627\u06a9\u062a\u0648\u0628\u0631 \u0646\u06c1\u06cc\u06ba\u06d4<\/p>\n<h2 id=\"heading-options-data-and-iv-skew\">\u0627\u062e\u062a\u06cc\u0627\u0631\u06cc \u0688\u06cc\u0679\u0627 \u0627\u0648\u0631 IV \u0633\u06a9\u06cc\u0648<\/h2>\n<p>\u0642\u06cc\u0645\u062a \u06a9\u0627 \u0688\u06cc\u0679\u0627 \u06c1\u0645\u06cc\u06ba \u0628\u062a\u0627\u062a\u0627 \u06c1\u06d2 \u06a9\u06c1 \u06a9\u06cc\u0627 \u06c1\u0648\u0627 \u06c1\u06d2\u06d4 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a \u06a9\u0627 \u0688\u06cc\u0679\u0627 \u06c1\u0645\u06cc\u06ba \u0628\u062a\u0627\u062a\u0627 \u06c1\u06d2 \u06a9\u06c1 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0627\u0633 \u06a9\u0648 \u0631\u0648\u06a9\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 \u06a9\u062a\u0646\u06cc \u0631\u0642\u0645 \u0627\u062f\u0627 \u06a9\u0631\u0646\u06d2 \u06a9\u0648 \u062a\u06cc\u0627\u0631 \u06c1\u06d2\u06d4<\/p>\n<p>\u062a\u0631\u0686\u06be\u06cc \u067e\u06cc\u0645\u0627\u0626\u0634 \u06a9\u0627 \u062d\u0633\u0627\u0628 \u06cc\u06c1\u0627\u06ba \u0622\u0633\u0627\u0646 \u06c1\u06d2\u06d4 \u06cc\u0639\u0646\u06cc\u060c OTM \u067e\u0648\u0679\u0633 (\u0627\u0633\u067e\u0627\u0679 \u0627\u0633\u0679\u0631\u0627\u0626\u06cc\u06a9 90-97%) \u0627\u0648\u0631 \u0627\u06d2 \u0679\u06cc \u0627\u06cc\u0645 \u06a9\u0627\u0644\u0632 (\u0627\u0633\u067e\u0627\u0679 97-103%) \u06a9\u06cc \u0627\u0648\u0633\u0637 \u0645\u0636\u0645\u0631 \u0627\u062a\u0627\u0631 \u0686\u0691\u06be\u0627\u0624 \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0641\u0631\u0642\u06d4 \u0627\u06af\u0631 \u06cc\u06c1 \u062a\u0639\u062f\u0627\u062f \u0628\u0691\u06be \u062c\u0627\u062a\u06cc \u06c1\u06d2\u060c \u062a\u0648 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0627\u0648\u067e\u0631 \u06a9\u06cc \u0646\u0645\u0627\u0626\u0634 \u067e\u0631 \u0645\u0646\u0641\u06cc \u062a\u062d\u0641\u0638 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0627\u06cc\u06a9 \u067e\u0631\u06cc\u0645\u06cc\u0645 \u0627\u062f\u0627 \u06a9\u0631 \u0631\u06c1\u06cc \u06c1\u06d2\u06d4 \u06cc\u06c1 \u062e\u0648\u0641 \u06a9\u06cc \u0645\u0642\u062f\u0627\u0631 \u06c1\u06d2\u06d4<\/p>\n<p>EODHD \u067e\u0631 \u0622\u067e\u0634\u0646\u0632 EOD \u0627\u06cc\u0646\u0688 \u067e\u0648\u0627\u0626\u0646\u0679 \u0633\u06d2 SPY \u0622\u067e\u0634\u0646 \u0688\u06cc\u0679\u0627 \u06a9\u0648 \u06a9\u06be\u06cc\u0646\u0686\u062a\u06d2 \u06c1\u06cc\u06ba \u0627\u0648\u0631 \u06c1\u0631 \u0627\u06cc\u0648\u0646\u0679 \u0648\u0646\u0688\u0648 \u06a9\u06d2 \u0644\u06cc\u06d2 \u067e\u0648\u0631\u06d2 \u0688\u06cc\u0679\u0627 \u0633\u06cc\u0679 \u06a9\u0648 \u0635\u0641\u062d\u06c1 \u0628\u0646\u062f\u06cc \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba\u06d4<\/p>\n<pre><code class=\"language-python\">def fetch_options_all(ticker, start, end, exp_cap):\n    url=\"https:\/\/eodhd.com\/api\/mp\/unicornbay\/options\/eod\"\n    all_records = []\n    offset = 0\n    limit = 1000\n    cols = None\n\n    while True:\n        params = {\n            'filter[underlying_symbol]': ticker,\n            'filter[tradetime_from]': start,\n            'filter[tradetime_to]': end,\n            'filter[exp_date_to]': exp_cap,\n            'fields[options-eod]': 'type,exp_date,strike,volatility,tradetime',\n            'page[limit]': limit,\n            'page[offset]': offset,\n            'api_token': api_key,\n            'compact': 1\n        }\n        r = requests.get(url, params=params)\n        payload = r.json()\n\n        if 'meta' not in payload:\n            print(f'unexpected response at offset {offset}: {list(payload.keys())}')\n            break\n\n        if cols is None:\n            cols = [f.strip() for f in payload['meta']['fields']]\n\n        batch = payload['data']\n        all_records.extend(batch)\n\n        total = payload['meta']['total']\n        offset += limit\n        if offset >= total or not batch:\n            break\n\n    df = pd.DataFrame(all_records, columns=cols)\n    df['tradetime'] = pd.to_datetime(df['tradetime'])\n    df['exp_date'] = pd.to_datetime(df['exp_date'])\n    df['strike'] = pd.to_numeric(df['strike'], errors=\"coerce\")\n    df['volatility'] = pd.to_numeric(df['volatility'], errors=\"coerce\")\n    return df.dropna(subset=['volatility', 'strike']).query('volatility > 0')\n\ndef compute_skew(df, spot):\n    df = df.copy()\n    df['moneyness'] = df['strike'] \/ spot\n\n    for expiry in sorted(df['exp_date'].unique()):\n        sub = df[df['exp_date'] == expiry]\n        otm_puts = sub[(sub['type'] == 'put') & (sub['moneyness'].between(0.90, 0.97))]\n        atm_calls = sub[(sub['type'] == 'call') & (sub['moneyness'].between(0.97, 1.03))]\n        if otm_puts.empty or atm_calls.empty:\n            continue\n\n        daily_skew = []\n        for date, puts in otm_puts.groupby('tradetime'):\n            calls = atm_calls[atm_calls['tradetime'] == date]\n            if calls.empty:\n                continue\n            skew = puts['volatility'].mean() - calls['volatility'].mean()\n            daily_skew.append({'date': date, 'skew': skew})\n\n        if daily_skew:\n            print(f'  using expiry: {expiry.date()}, {len(daily_skew)} days')\n            return pd.DataFrame(daily_skew).set_index('date').sort_index()\n\n    return pd.DataFrame()\n\nspy_skew = {}\n\nfor name, meta in events.items():\n    anchor = event_windows[name]['anchor']\n    spot = event_prices[name].loc[anchor, 'spy']\n    start = (anchor - pd.Timedelta(days=20)).strftime('%Y-%m-%d')\n    end = (anchor + pd.Timedelta(days=5)).strftime('%Y-%m-%d')\n    exp_cap = (pd.Timestamp(end) + pd.Timedelta(days=90)).strftime('%Y-%m-%d')\n    raw = fetch_options_all('SPY', start, end, exp_cap)\n    print(f'n{meta[\"label\"]} | total rows: {len(raw)}')\n    skew_df = compute_skew(raw, spot)\n    spy_skew[name] = skew_df\n    print(skew_df)\n<\/code><\/pre>\n<p><strong>\u062d\u0633\u0627\u0628 \u06a9\u062a\u0627\u0628:<\/strong><\/p>\n<pre><code class=\"language-plaintext\">Hamas Attack on Israel (Oct 2023) | total rows: 10435\n  using expiry: 2023-11-17, 3 days\n                skew\ndate                \n2023-10-11  0.014164\n2023-10-12  0.034279\n2023-10-13  0.054055\nunexpected response at offset 11000: ['errors']\n\nYen Carry Unwind + Middle East Escalation (Aug 2024) | total rows: 10660\n  using expiry: 2024-10-18, 11 days\n                skew\ndate                \n2024-07-26  0.040748\n2024-07-29  0.041219\n2024-07-30  0.087402\n2024-07-31  0.029824\n2024-08-01  0.065074\n2024-08-02  0.053369\n2024-08-05  0.049848\n2024-08-06  0.055957\n2024-08-07  0.050664\n2024-08-08  0.050283\n2024-08-09  0.055462\nunexpected response at offset 11000: ['errors']\n\nUS-China Tariff Shock (Apr 2025) | total rows: 10698\n  using expiry: 2025-06-20, 18 days\n                skew\ndate                \n2025-03-14  0.042500\n2025-03-17  0.029671\n2025-03-18  0.027886\n2025-03-19  0.029360\n2025-03-20  0.026691\n2025-03-21  0.008500\n2025-03-24  0.013388\n2025-03-25  0.022157\n2025-03-26  0.012829\n2025-03-27  0.009171\n2025-03-28  0.026971\n2025-03-31  0.036586\n2025-04-01  0.022857\n2025-04-02 -0.023000\n2025-04-03  0.019729\n2025-04-04  0.036729\n2025-04-07  0.005257\n2025-04-08  0.041543\n<\/code><\/pre>\n<p>\u0648\u0627\u0642\u0639\u06c1 \u06a9\u0627 \u062a\u062c\u0632\u06cc\u06c1 \u06a9\u0631\u0646\u06d2 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u0686\u0646\u062f \u0645\u0634\u0627\u06c1\u062f\u0627\u062a \u0642\u0627\u0628\u0644 \u062a\u0648\u062c\u06c1 \u06c1\u06cc\u06ba\u06d4 7 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06a9\u06d2 \u0688\u06cc\u0679\u0627 \u0633\u06cc\u0679 \u0645\u06cc\u06ba \u0635\u0631\u0641 \u062a\u06cc\u0646 \u0688\u06cc\u0679\u0627 \u067e\u0648\u0627\u0626\u0646\u0679\u0633 \u06c1\u06cc\u06ba\u060c \u062a\u0645\u0627\u0645 \u0648\u0627\u0642\u0639\u0627\u062a \u06a9\u06d2 \u0628\u0639\u062f\u060c \u0627\u0633 \u0645\u062f\u062a \u06a9\u06d2 \u062f\u0648\u0631\u0627\u0646 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a \u06a9\u06cc \u0645\u062d\u062f\u0648\u062f \u0631\u06cc\u0646\u062c \u06a9\u06cc \u0648\u062c\u06c1 \u0633\u06d2\u06d4 \u0679\u06cc\u0631\u0641 \u0627\u0645\u067e\u06cc\u06a9\u0679 \u0688\u06cc\u0679\u0627\u0633\u06cc\u0679 \u0645\u06cc\u06ba \u0627\u06cc\u0648\u0646\u0679 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u06a9\u06cc \u0633\u0628 \u0633\u06d2 \u0627\u0645\u06cc\u0631 \u062a\u0631\u06cc\u0646 \u06a9\u0648\u0631\u06cc\u062c \u06c1\u06d2\u060c \u062c\u0648 \u0627\u06cc\u0648\u0646\u0679 \u0633\u06d2 \u062a\u0642\u0631\u06cc\u0628\u0627\u064b \u062a\u06cc\u0646 \u06c1\u0641\u062a\u06d2 \u067e\u06c1\u0644\u06d2 14 \u0645\u0627\u0631\u0686 \u062a\u06a9 \u062c\u0627 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\u0627\u0631\u062a\u0628\u0627\u0637 \u06a9\u0627 \u0627\u0634\u0627\u0631\u06c1 \u0627\u0644\u0679 \u062c\u0627\u062a\u0627 \u06c1\u06d2\u06d4 \u0645\u0631\u06a9\u0628 \u062f\u0648\u0646\u0648\u06ba \u06a9\u0627 \u0627\u0648\u0633\u0637 \u06c1\u06d2\u06d4<\/p>\n<pre><code class=\"language-python\">def build_composite(event_name, skew_df, event_prices_df, anchor):\n    prices = event_prices_df[['spy', 'gld']].copy()\n    prices['corr'] = prices['spy'].rolling(10).corr(prices['gld'])\n\n    def zscore(s):\n        return (s - s.mean()) \/ s.std()\n\n    skew_z = zscore(skew_df['skew'])\n    corr_z = zscore(prices['corr'].dropna())\n\n    corr_z = corr_z * -1\n\n    combined = pd.concat([skew_z.rename('skew_z'), corr_z.rename('corr_z')], axis=1).dropna()\n    combined['composite'] = combined.mean(axis=1)\n\n    combined['stress_flag'] = combined['composite'] > 1.0\n\n    return combined\n\ncomposites = {}\n\nfor name, meta in events.items():\n    anchor = event_windows[name]['anchor']\n    skew_df = spy_skew[name]\n    prices_df = event_prices[name]\n    comp = build_composite(name, skew_df, prices_df, anchor)\n    composites[name] = comp\n    print(f\"n{meta['label']}\")\n    print(comp.round(3))\n<\/code><\/pre>\n<p><strong>\u062d\u0633\u0627\u0628 \u06a9\u062a\u0627\u0628:<\/strong><\/p>\n<pre><code class=\"language-plaintext\">Hamas Attack on Israel (Oct 2023)\n            skew_z  corr_z  composite  stress_flag\ndate                                              \n2023-10-11  -1.003  -1.186     -1.094        False\n2023-10-12   0.006  -1.316     -0.655        False\n2023-10-13   0.997  -0.971      0.013        False\n\nYen Carry Unwind + Middle East Escalation (Aug 2024)\n            skew_z  corr_z  composite  stress_flag\ndate                                              \n2024-07-26  -0.808  -0.863     -0.835        False\n2024-07-29  -0.776  -1.074     -0.925        False\n2024-07-30   2.343  -0.559      0.892        False\n2024-07-31  -1.546  -0.082     -0.814        False\n2024-08-01   0.835   0.933      0.884        False\n2024-08-02   0.044   2.117      1.081         True\n2024-08-05  -0.194   1.977      0.892        False\n2024-08-06   0.219   1.525      0.872        False\n2024-08-07  -0.138   1.170      0.516        False\n2024-08-08  -0.164   0.881      0.358        False\n2024-08-09   0.186   0.371      0.278        False\n\nUS-China Tariff Shock (Apr 2025)\n            skew_z  corr_z  composite  stress_flag\ndate                                              \n2025-03-17   0.511   0.516      0.513        False\n2025-03-18   0.398   0.493      0.445        False\n2025-03-19   0.491   0.154      0.323        False\n2025-03-20   0.322  -0.209      0.057        False\n2025-03-21  -0.830  -1.023     -0.926        False\n2025-03-24  -0.520  -0.999     -0.759        False\n2025-03-25   0.035  -0.777     -0.371        False\n2025-03-26  -0.556  -0.566     -0.561        False\n2025-03-27  -0.787   0.096     -0.346        False\n2025-03-28   0.340   1.093      0.716        False\n2025-03-31   0.949   1.179      1.064         True\n2025-04-01   0.080   1.309      0.694        False\n2025-04-02  -2.824   1.190     -0.817        False\n2025-04-03  -0.119   1.047      0.464        False\n2025-04-04   0.958   0.119      0.539        False\n2025-04-07  -1.035  -0.794     -0.915        False\n2025-04-08   1.263  -1.274     -0.006        False\n<\/code><\/pre>\n<p>\u062a\u0646\u0627\u0624 \u06a9\u06d2 \u062c\u06be\u0646\u0688\u06d2 \u06a9\u06cc \u062d\u062f 1.0 \u067e\u0631 \u0633\u06cc\u0679 \u06c1\u06d2\u06d4 \u062a\u06cc\u0646\u0648\u06ba \u0648\u0627\u0642\u0639\u0627\u062a \u0645\u06cc\u06ba \u062f\u0648 \u062f\u0646 \u062f\u06a9\u06be\u0627\u0626\u06d2 \u06af\u0626\u06d2 \u06c1\u06cc\u06ba: \u06cc\u0646 \u06a9\u06cc \u0642\u062f\u0631 \u0645\u06cc\u06ba \u06a9\u0645\u06cc \u06a9\u06d2 \u0644\u06cc\u06d2 2 \u0627\u06af\u0633\u062a 2024 \u0627\u0648\u0631 \u0679\u06cc\u0631\u0641 \u06a9\u06d2 \u062c\u06be\u0679\u06a9\u06d2 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\u0627\u0633\u06a9\u06cc\u0648 \u0631\u06cc\u0688\u0646\u06af \u06a9\u06cc \u0646\u0645\u0627\u0626\u0646\u062f\u06af\u06cc \u06a9\u0631\u062a\u0627 \u06c1\u06d2\u060c \u062c\u0633 \u06a9\u06d2 \u0646\u062a\u06cc\u062c\u06d2 \u0645\u06cc\u06ba \u0628\u0627\u06c1\u0645\u06cc \u062a\u0639\u0644\u0642 \u06a9\u06d2 \u0633\u06af\u0646\u0644 \u06a9\u06d2 \u0628\u0691\u06be\u062a\u06d2 \u0631\u06c1\u0646\u06d2 \u06a9\u06d2 \u0628\u0627\u0648\u062c\u0648\u062f \u0627\u06cc\u06a9 \u0645\u0631\u06a9\u0628 \u0645\u0646\u0641\u06cc \u0642\u062f\u0631 \u067e\u06cc\u062f\u0627 \u06c1\u0648\u062a\u06cc \u06c1\u06d2\u06d4 2025 \u0645\u06cc\u06ba \u0633\u0628 \u0633\u06d2 \u0628\u0691\u06cc \u0627\u06cc\u06a9 \u0631\u0648\u0632\u06c1 SPY \u06a9\u0645\u06cc \u06a9\u06d2 \u0645\u0648\u0642\u0639 \u067e\u0631 \u0622\u067e\u0634\u0646\u0632 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0646\u06d2 \u0628\u06cc\u0644\u0648\u06ba \u06a9\u0648 \u0631\u06cc\u0686\u06be \u06a9\u06d2 \u0645\u0642\u0627\u0628\u0644\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u0641\u0639\u0627\u0644 \u0637\u0648\u0631 \u067e\u0631 \u0638\u0627\u06c1\u0631 \u06a9\u06cc\u0627\u06d4 \u06cc\u06c1 \u0627\u0633 \u0628\u0627\u062a \u06a9\u06cc \u0639\u0644\u0627\u0645\u062a \u0646\u06c1\u06cc\u06ba \u06c1\u06d2 \u06a9\u06c1 \u0622\u067e \u0646\u0638\u0631 \u0627\u0646\u062f\u0627\u0632 \u0646\u06c1\u06cc\u06ba \u06a9\u0631 \u0633\u06a9\u062a\u06d2\u06d4 \u06c1\u0645 \u0627\u0633 \u067e\u0631 \u0648\u0627\u067e\u0633 \u0622\u0626\u06cc\u06ba \u06af\u06d2\u06d4<\/p>\n<h2 id=\"heading-news-sentiment\">\u062e\u0628\u0631\u0648\u06ba \u06a9\u06d2 \u062c\u0630\u0628\u0627\u062a<\/h2>\n<p>\u0622\u062e\u0631\u06cc \u0688\u06cc\u0679\u0627 \u0644\u06cc\u0626\u0631 \u062e\u0628\u0631\u0648\u06ba \u06a9\u0627 \u062c\u0630\u0628\u06c1 \u06c1\u06d2\u06d4 EODHD \u06a9\u0627 Sentiment API \u0645\u0627\u0644\u06cc\u0627\u062a\u06cc \u062e\u0628\u0631\u0648\u06ba \u06a9\u06cc \u06a9\u0648\u0631\u06cc\u062c \u0633\u06d2 \u0627\u062e\u0630 \u06a9\u0631\u062f\u06c1 \u06c1\u0631 \u0679\u06a9\u0631 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0631\u0648\u0632\u0627\u0646\u06c1 \u0645\u0639\u0645\u0648\u0644 \u06a9\u06d2 \u0645\u0637\u0627\u0628\u0642 \u0627\u0633\u06a9\u0648\u0631 \u062a\u06cc\u0627\u0631 \u06a9\u0631\u062a\u0627 \u06c1\u06d2\u060c \u062c\u0633 \u0645\u06cc\u06ba -1 (\u0645\u0636\u0628\u0648\u0637 \u0637\u0648\u0631 \u067e\u0631 \u0645\u0646\u0641\u06cc) \u0633\u06d2 \u0644\u06d2 \u06a9\u0631 +1 (\u0645\u0636\u0628\u0648\u0637 \u0637\u0648\u0631 \u067e\u0631 \u0645\u062b\u0628\u062a) \u06c1\u0648\u062a\u0627 \u06c1\u06d2\u06d4 \u06c1\u0645 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a \u06a9\u06d2 \u062a\u062c\u0632\u06cc\u06c1 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0627\u0633\u062a\u0639\u0645\u0627\u0644 \u06c1\u0648\u0646\u06d2 \u0648\u0627\u0644\u06cc \u0627\u0633\u06cc \u0648\u0646\u0688\u0648 \u06a9\u06d2 \u0644\u06cc\u06d2 SPY \u06a9\u06d2 \u062c\u0630\u0628\u0627\u062a \u06a9\u0648 \u0627\u06cc\u06a9 \u0648\u0633\u06cc\u0639 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u067e\u0631\u0627\u06a9\u0633\u06cc \u06a9\u06d2 \u0637\u0648\u0631 \u067e\u0631 \u0627\u0633\u062a\u0639\u0645\u0627\u0644 \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba\u06d4<\/p>\n<pre><code class=\"language-python\">def fetch_sentiment(ticker, start, end):\n    url=\"https:\/\/eodhd.com\/api\/sentiments\"\n    params = {\n        's': ticker,\n        'from': start,\n        'to': end,\n        'api_token': api_key,\n        'fmt': 'json'\n    }\n    r = requests.get(url, params=params)\n    data = r.json()\n    key = ticker if ticker in data else ticker + '.US'\n    if key not in data:\n        return pd.DataFrame()\n    df = pd.DataFrame(data[key])\n    df['date'] = pd.to_datetime(df['date'])\n    df = df.set_index('date')[['normalized']].rename(columns={'normalized': 'sentiment'})\n    return df.sort_index()\n\nevent_sentiment = {}\n\nfor name, meta in events.items():\n    anchor = event_windows[name]['anchor']\n    start = (anchor - pd.Timedelta(days=20)).strftime('%Y-%m-%d')\n    end = (anchor + pd.Timedelta(days=10)).strftime('%Y-%m-%d')\n    sent_df = fetch_sentiment('SPY', start, end)\n    event_sentiment[name] = sent_df\n    print(f\"n{meta['label']}\")\n    print(sent_df)\n<\/code><\/pre>\n<p><strong>\u062d\u0633\u0627\u0628 \u06a9\u062a\u0627\u0628:<\/strong><\/p>\n<pre><code class=\"language-plaintext\">Hamas Attack on Israel (Oct 2023)\n            sentiment\ndate                 \n2023-09-25      0.997\n2023-09-26      0.986\n\nYen Carry Unwind + Middle East Escalation (Aug 2024)\n            sentiment\ndate                 \n2024-07-17     0.9340\n2024-07-22     0.9460\n2024-07-23     0.9550\n2024-07-25     0.9925\n2024-07-26     0.9860\n2024-07-29     0.9850\n2024-07-30     0.9630\n2024-07-31     0.9950\n2024-08-02     0.3350\n2024-08-05     0.9780\n2024-08-06     0.3603\n2024-08-15     0.9980\n\nUS-China Tariff Shock (Apr 2025)\n            sentiment\ndate                 \n2025-03-14    -0.9890\n2025-03-15     0.9930\n2025-03-17    -0.7010\n2025-03-18     0.9990\n2025-03-20    -0.8900\n2025-03-22     0.9950\n2025-03-24     0.9600\n2025-03-27     0.9830\n2025-03-28     0.9917\n2025-04-03     0.9365\n2025-04-05     0.0130\n2025-04-06     0.9990\n2025-04-07     0.9870\n2025-04-09     0.5460\n2025-04-10     0.8079\n2025-04-11     0.0929\n2025-04-12    -0.9920\n2025-04-13     0.0130\n<\/code><\/pre>\n<p>\u062f\u0648 \u0686\u06cc\u0632\u06cc\u06ba \u0641\u0648\u0631\u0627\u064b \u0633\u0627\u0645\u0646\u06d2 \u0622\u062a\u06cc \u06c1\u06cc\u06ba\u06d4 Encarry Unwind \u06a9\u06d2 \u0645\u0639\u0627\u0645\u0644\u06d2 \u0645\u06cc\u06ba\u060c 17 \u062c\u0648\u0644\u0627\u0626\u06cc \u0633\u06d2 31 \u062c\u0648\u0644\u0627\u0626\u06cc \u062a\u06a9 \u062c\u0630\u0628\u0627\u062a 0.934 \u0627\u0648\u0631 0.995 \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u062a\u06be\u06d2\u060c \u0627\u0648\u0631 30 \u200b\u200b\u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648 \u067e\u06c1\u0644\u06d2 \u06c1\u06cc \u0633\u06a9\u06cc\u0648 \u0628\u0691\u06be \u0686\u06a9\u0627 \u062a\u06be\u0627 \u0627\u0648\u0631 \u06a9\u0645\u067e\u0648\u0632\u0679 \u0627\u0646\u0688\u06cc\u06a9\u0633 \u0628\u0646 \u0631\u06c1\u0627 \u062a\u06be\u0627\u06d4 \u062c\u0630\u0628\u0627\u062a \u0627\u0633 \u062f\u0628\u0627\u0624 \u06a9\u06cc \u0639\u06a9\u0627\u0633\u06cc \u0646\u06c1\u06cc\u06ba \u06a9\u0631\u062a\u06d2 \u062a\u06be\u06d2 \u062c\u0648 \u0622\u067e\u0634\u0646\u0632 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06cc \u0642\u06cc\u0645\u062a\u0648\u06ba \u06a9\u0627 \u062a\u0639\u06cc\u0646 \u06a9\u0631 \u0631\u06c1\u06cc \u06c1\u06d2\u06d4 3 \u0627\u067e\u0631\u06cc\u0644 \u06a9\u0648 \u062c\u0630\u0628\u0627\u062a\u060c \u062c\u0628 \u0679\u06cc\u0631\u0641 \u06a9\u06d2 \u062c\u06be\u0679\u06a9\u06d2 \u06a9\u06cc \u0648\u062c\u06c1 \u0633\u06d2 SPY 4.8% \u06af\u0631 \u06af\u06cc\u0627\u060c +0.9365 \u062a\u06be\u0627\u06d4 \u0628\u06c1\u062a \u0645\u062b\u0628\u062a\u06d4 \u062e\u0628\u0631\u0648\u06ba \u06a9\u06d2 \u0686\u06a9\u0631 \u06a9\u06d2 \u0633\u0627\u062a\u06be\u060c \u0622\u067e \u06a9\u0648 \u06a9\u0628\u06be\u06cc \u0645\u0639\u0644\u0648\u0645 \u0646\u06c1\u06cc\u06ba \u062a\u06be\u0627 \u06a9\u06c1 \u06a9\u06cc\u0627 \u06c1\u0648\u0646\u06d2 \u0648\u0627\u0644\u0627 \u06c1\u06d2\u06d4<\/p>\n<p>7 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06a9\u06d2 \u062c\u0630\u0628\u0627\u062a\u06cc \u0688\u06cc\u0679\u0627 \u0645\u06cc\u06ba \u0633\u062a\u0645\u0628\u0631 \u06a9\u06d2 \u0622\u062e\u0631 \u0633\u06d2 \u0635\u0631\u0641 \u062f\u0648 \u0688\u06cc\u0679\u0627 \u067e\u0648\u0627\u0626\u0646\u0679\u0633 +1.0 \u06a9\u06d2 \u0642\u0631\u06cc\u0628 \u06c1\u06cc\u06ba\u06d4 \u06cc\u06c1 \u0648\u0627\u0642\u0639\u06c1 \u0633\u06d2 \u062a\u0642\u0631\u06cc\u0628\u0627\u064b \u062f\u0648 \u06c1\u0641\u062a\u06d2 \u067e\u06c1\u0644\u06d2 \u06c1\u0648\u062a\u0627 \u06c1\u06d2 \u0627\u0648\u0631 \u062e\u0648\u062f \u0627\u0633 \u062d\u0645\u0644\u06d2 \u06a9\u06d2 \u0628\u0627\u0631\u06d2 \u0645\u06cc\u06ba \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06d2 \u062c\u0630\u0628\u0627\u062a \u06a9\u06d2 \u0628\u0627\u0631\u06d2 \u0645\u06cc\u06ba \u06c1\u0645\u06cc\u06ba \u06a9\u0686\u06be \u0646\u06c1\u06cc\u06ba \u0628\u062a\u0627\u062a\u0627\u06d4 \u0627\u0633 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06cc \u06a9\u0648\u0631\u06cc\u062c \u062c\u0630\u0628\u0627\u062a\u06cc \u062a\u062c\u0632\u06cc\u06c1 \u0645\u06cc\u06ba \u062d\u0635\u06c1 \u0644\u06cc\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0628\u06c1\u062a \u067e\u062a\u0644\u06cc \u06c1\u06d2\u06d4<\/p>\n<h2 id=\"heading-event-1-hamas-attack-on-israel-oct-7-2023\">\u0648\u0627\u0642\u0639\u06c1 1: \u062d\u0645\u0627\u0633 \u06a9\u0627 \u0627\u0633\u0631\u0627\u0626\u06cc\u0644 \u067e\u0631 \u062d\u0645\u0644\u06c1\u060c 7 \u0627\u06a9\u062a\u0648\u0628\u0631 2023<\/h2>\n<p>7 \u0627\u06a9\u062a\u0648\u0628\u0631 2023 \u06a9\u0648 \u062d\u0645\u0627\u0633 \u06a9\u0627 \u062d\u0645\u0644\u06c1 \u0627\u06cc\u06a9 \u0628\u0691\u0627 \u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc \u0633\u06cc\u0627\u0633\u06cc \u062c\u06be\u0679\u06a9\u0627 \u062a\u06be\u0627\u06d4 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u0627 \u0631\u062f\u0639\u0645\u0644 \u0627\u06cc\u0633\u0627 \u0646\u06c1\u06cc\u06ba \u062a\u06be\u0627\u06d4<\/p>\n<p>SPY 9 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06a9\u0648 6 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06a9\u0648 \u0628\u0646\u062f \u06c1\u0648\u0646\u06d2 \u06a9\u06d2 \u0645\u0642\u0627\u0628\u0644\u06d2 \u0645\u06cc\u06ba 0.64 \u0641\u06cc\u0635\u062f \u0632\u06cc\u0627\u062f\u06c1 \u0628\u0646\u062f \u06c1\u0648\u0627\u06d4 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u062d\u0645\u0644\u06c1 \u06c1\u0641\u062a\u06c1 \u06a9\u0648 \u06c1\u0648\u0627 \u062a\u06be\u0627\u060c \u062d\u0648\u0627\u0644\u06c1 \u0646\u0642\u0637\u06c1 \u067e\u06cc\u0631 9 \u0627\u06a9\u062a\u0648\u0628\u0631 \u06c1\u06d2\u06d4 GLD \u0627\u0648\u0631 TLT \u062f\u0648\u0646\u0648\u06ba \u0646\u06d2 \u0631\u06cc\u0644\u06cc \u0646\u06a9\u0627\u0644\u06cc\u06d4 VIXY \u0646\u06d2 3.35% \u06a9\u06d2 T+1 \u06a9\u0627 \u0627\u0636\u0627\u0641\u06c1 \u06a9\u06cc\u0627\u060c \u062c\u0648 \u06a9\u06c1 \u062f\u06cc\u06af\u0631 \u062f\u0648 \u0648\u0627\u0642\u0639\u0627\u062a \u06a9\u06d2 20% \u0627\u0639\u062f\u0627\u062f \u0648 \u0634\u0645\u0627\u0631 \u06a9\u06d2 \u0645\u0642\u0627\u0628\u0644\u06d2 \u0645\u06cc\u06ba \u0645\u0639\u0645\u0648\u0644\u06cc \u06c1\u06d2\u06d4 \u062f\u0648 \u06c1\u0641\u062a\u0648\u06ba \u06a9\u06d2 \u0627\u0646\u062f\u0631\u060c \u0632\u06cc\u0627\u062f\u06c1 \u062a\u0631 \u0627\u062b\u0627\u062b\u06d2 \u0627\u06cc\u0648\u0646\u0679 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u06a9\u06cc \u0633\u0637\u062d \u067e\u0631 \u0648\u0627\u067e\u0633 \u0622 \u06af\u0626\u06d2 \u062a\u06be\u06d2\u06d4<\/p>\n<p>\u0645\u06cc\u0626\u0631 \u06a9\u06cc \u062a\u0634\u0631\u06cc\u062d \u0645\u062e\u0635\u0648\u0635 \u062a\u06be\u06cc\u06d4 \u06cc\u06c1 \u0645\u062d\u062f\u0648\u062f \u0628\u0631\u0627\u06c1 \u0631\u0627\u0633\u062a \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u062a\u0631\u0633\u06cc\u0644 \u06a9\u06d2 \u0633\u0627\u062a\u06be \u0627\u06cc\u06a9 \u0639\u0644\u0627\u0642\u0627\u0626\u06cc \u062a\u0646\u0627\u0632\u0639\u06c1 \u062a\u06be\u0627\u06d4 \u0627\u0633\u0631\u0627\u0626\u06cc\u0644 \u0646\u06c1 \u062a\u0648 \u062a\u06cc\u0644 \u0641\u0631\u0627\u06c1\u0645 \u06a9\u0631\u0646\u06d2 \u0648\u0627\u0644\u0627 \u0628\u0691\u0627 \u0645\u0644\u06a9 \u06c1\u06d2 \u0627\u0648\u0631 \u0646\u06c1 \u06c1\u06cc \u0627\u06c1\u0645 \u062a\u062c\u0627\u0631\u062a\u06cc \u067e\u0627\u0631\u0679\u0646\u0631 \u06c1\u06d2\u060c \u0627\u0648\u0631 \u0646\u06c1 \u06c1\u06cc \u0648\u06c1 \u0639\u0627\u0644\u0645\u06cc \u0633\u067e\u0644\u0627\u0626\u06cc \u0686\u06cc\u0646\u0632 \u0645\u06cc\u06ba \u0627\u0633 \u0637\u0631\u062d \u0634\u0627\u0645\u0644 \u06c1\u06d2 \u062c\u0633 \u0633\u06d2 \u0622\u0645\u062f\u0646\u06cc \u06a9\u06cc \u062a\u0648\u0642\u0639\u0627\u062a \u06a9\u0648 \u062f\u0648\u0628\u0627\u0631\u06c1 \u062f\u0631\u0633\u062a \u06a9\u06cc\u0627 \u062c\u0627\u0626\u06d2\u06d4 \u063a\u06cc\u0631 \u06cc\u0642\u06cc\u0646\u06cc \u0635\u0648\u0631\u062a\u062d\u0627\u0644 \u062d\u0642\u06cc\u0642\u06cc \u062a\u06be\u06cc\u06d4 \u0627\u0642\u062a\u0635\u0627\u062f\u06cc \u0646\u062a\u0627\u0626\u062c \u0646\u06c1\u06cc\u06ba \u062a\u06be\u06d2.<\/p>\n<p>\u06cc\u06c1 \u0641\u0631\u0642 \u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1\u0648\u06ba \u06a9\u06d2 \u0631\u0648\u06cc\u06d2 \u0645\u06cc\u06ba \u0648\u0627\u0636\u062d \u06c1\u06d2\u06d4 GLD \u0627\u0648\u0631 TLT \u062f\u0648\u0646\u0648\u06ba \u0628\u0691\u06be \u0631\u06c1\u06d2 \u06c1\u06cc\u06ba\u060c UUP \u0641\u0644\u06cc\u0679 \u06c1\u06d2 \u0627\u0648\u0631 \u0627\u0633\u0679\u0627\u06a9 \u0628\u0646\u06cc\u0627\u062f\u06cc \u0637\u0648\u0631 \u067e\u0631 \u0641\u0644\u06cc\u0679 \u06c1\u06cc\u06ba\u06d4 \u062c\u0628 \u0633\u0648\u0646\u0627 \u0627\u0648\u0631 \u0628\u0627\u0646\u0688\u0632 \u0627\u06cc\u06a9 \u0633\u0627\u062a\u06be \u0628\u0691\u06be\u062a\u06d2 \u06c1\u06cc\u06ba \u062c\u0628\u06a9\u06c1 \u0627\u0633\u0679\u0627\u06a9 \u06c1\u0648\u0644\u0688 \u06c1\u0648\u062a\u0627 \u06c1\u06d2\u060c \u0645\u0627\u0631\u06a9\u06cc\u0679 \u062d\u0641\u0627\u0638\u062a \u06a9\u06d2 \u0644\u06cc\u06d2 \u0627\u06cc\u06a9 \u06a9\u0644\u0627\u0633\u06a9 \u067e\u0631\u0648\u0627\u0632 \u06a9\u0627 \u0627\u0638\u06c1\u0627\u0631 \u06a9\u0631 \u0631\u06c1\u06cc \u06c1\u0648\u062a\u06cc \u06c1\u06d2\u06d4 \u067e\u06cc\u0633\u06c1 \u0628\u0646\u06cc\u0627\u062f\u06cc \u0642\u06cc\u0645\u062a \u06a9\u06cc \u0627\u0635\u0644\u0627\u062d \u06a9\u06d2 \u062c\u0648\u0627\u0628 \u06a9\u06d2 \u0628\u062c\u0627\u0626\u06d2 \u063a\u06cc\u0631 \u06cc\u0642\u06cc\u0646\u06cc \u0635\u0648\u0631\u062a\u062d\u0627\u0644 \u06a9\u06d2 \u062e\u0644\u0627\u0641 \u0627\u0646\u0634\u0648\u0631\u0646\u0633 \u06a9\u06d2 \u0637\u0648\u0631 \u067e\u0631 \u062f\u0641\u0627\u0639\u06cc \u0627\u062b\u0627\u062b\u0648\u06ba \u0645\u06cc\u06ba \u0645\u0646\u062a\u0642\u0644 \u06c1\u0648\u0627\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_579_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0648\u0627\u0642\u0639\u06c1 1 IV \u0627\u0633\u06a9\u06cc\u0648 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u0627\u0633 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u0644\u06cc\u06d2 \u062a\u062d\u0631\u06cc\u0641 \u06a9\u0627 \u0688\u06cc\u0679\u0627 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u062a\u06cc\u0646 \u062f\u0646 \u0628\u0639\u062f (11\u060c 12 \u0627\u0648\u0631 13 \u0627\u06a9\u062a\u0648\u0628\u0631) \u062a\u06a9 \u0645\u062d\u062f\u0648\u062f \u06c1\u06d2\u06d4 \u062d\u0645\u0644\u06d2 \u06a9\u06d2 \u0628\u0639\u062f \u06a9\u06d2 \u062f\u0646\u0648\u06ba \u0645\u06cc\u06ba \u0645\u0633\u0644\u0633\u0644 \u063a\u06cc\u0631 \u06cc\u0642\u06cc\u0646\u06cc \u0635\u0648\u0631\u062a\u062d\u0627\u0644 \u0645\u06cc\u06ba \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06cc \u0642\u06cc\u0645\u062a\u0648\u06ba \u06a9\u06d2 \u0633\u0627\u062a\u06be \u06c1\u0645 \u0622\u06c1\u0646\u06af\u060c \u0627\u0646 \u062a\u06cc\u0646 \u062f\u0646\u0648\u06ba \u0645\u06cc\u06ba \u0633\u06a9\u06cc\u0648 \u0645\u0633\u0644\u0633\u0644 0.014 \u0633\u06d2 0.054 \u062a\u06a9 \u0628\u0691\u06be \u06af\u06cc\u0627\u06d4<\/p>\n<p>\u062a\u0627\u06c1\u0645\u060c \u0686\u0648\u0646\u06a9\u06c1 \u06cc\u06c1 \u062d\u0645\u0644\u06c1 \u0627\u06cc\u06a9 \u06c1\u0641\u062a\u06d2 \u06a9\u06d2 \u0622\u062e\u0631 \u0645\u06cc\u06ba \u06c1\u0648\u0627 \u062a\u06be\u0627 \u0627\u0648\u0631 EODHD \u06a9\u06cc \u0622\u067e\u0634\u0646 \u06a9\u0648\u0631\u06cc\u062c \u0627\u0633 \u0639\u0631\u0635\u06d2 \u06a9\u06d2 \u062f\u0648\u0631\u0627\u0646 \u06a9\u0645 \u06c1\u06d2\u060c \u0627\u0633 \u0644\u06cc\u06d2 \u0648\u0627\u0642\u0639\u06c1 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u06a9\u06cc \u062a\u062d\u0631\u06cc\u0641 \u06a9\u0627 \u06a9\u0648\u0626\u06cc \u0688\u06cc\u0679\u0627 \u0646\u06c1\u06cc\u06ba \u06c1\u06d2\u06d4 \u06cc\u06c1 \u0645\u0639\u0644\u0648\u0645 \u0646\u06c1\u06cc\u06ba \u06c1\u06d2 \u06a9\u06c1 \u0622\u06cc\u0627 \u0622\u067e\u0634\u0646\u0632 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0646\u06d2 \u0627\u0633 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06cc \u062a\u0648\u0642\u0639 \u06a9\u06cc \u062a\u06be\u06cc\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_116_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0648\u0627\u0642\u0639\u06c1 1 \u062c\u0627\u0645\u0639 \u062a\u0646\u0627\u0624 \u0627\u0633\u06a9\u0648\u0631 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u0645\u0631\u06a9\u0628\u0627\u062a \u0627\u062a\u0646\u06d2 \u06c1\u06cc \u0646\u0627\u06cc\u0627\u0628 \u06c1\u06cc\u06ba\u06d4 3 \u0688\u06cc\u0679\u0627 \u067e\u0648\u0627\u0626\u0646\u0679\u0633\u060c \u062c\u06be\u0646\u0688\u0627 \u0646\u06c1\u06cc\u06ba \u0644\u06af\u0627\u06cc\u0627 \u06af\u06cc\u0627\u06d4 \u0627\u0628\u062a\u062f\u0627\u0626\u06cc \u0627\u0646\u062a\u0628\u0627\u06c1\u06cc \u0639\u0644\u0627\u0645\u0627\u062a \u06a9\u06d2 \u0628\u0627\u0631\u06d2 \u0645\u06cc\u06ba \u0646\u062a\u06cc\u062c\u06c1 \u0627\u062e\u0630 \u06a9\u0631\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0688\u06cc\u0679\u0627 \u0646\u0627\u06a9\u0627\u0641\u06cc \u06c1\u06d2\u06d4<\/p>\n<p>\u06cc\u06c1 \u062a\u062c\u0632\u06cc\u0627\u062a\u06cc \u0637\u0648\u0631 \u067e\u0631 \u0633\u0628 \u0633\u06d2 \u06a9\u0645\u0632\u0648\u0631 \u06a9\u06cc\u0633 \u0627\u0633\u0679\u0688\u06cc \u06c1\u06d2\u06d4 \u0642\u06cc\u0645\u062a \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u067e\u0631\u0646\u0679 \u062a\u062c\u0632\u06cc\u06c1 \u0645\u06cc\u06ba \u0628\u0627\u0642\u06cc \u06c1\u06d2 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u06cc\u06c1 \u0645\u0639\u0644\u0648\u0645\u0627\u062a\u06cc \u06c1\u06d2 \u0627\u0648\u0631 \u062f\u06cc\u06af\u0631 \u062f\u0648 \u0648\u0627\u0642\u0639\u0627\u062a \u06a9\u06d2 \u0633\u0627\u062a\u06be \u062a\u0636\u0627\u062f \u0628\u0627\u0644\u06a9\u0644 \u0648\u0627\u0636\u062d \u06c1\u06d2\u06d4 \u0686\u06be\u0648\u0679\u06cc \u0686\u0627\u0644\u06cc\u06ba\u060c \u0635\u0627\u0641 \u0641\u0644\u0627\u0626\u0679 \u0679\u0648 \u0633\u06cc\u0641\u0679\u06cc \u067e\u06cc\u0679\u0631\u0646\u060c \u0627\u0648\u0631 \u0641\u0648\u0631\u06cc \u0628\u062d\u0627\u0644\u06cc \u0627\u06cc\u06a9 \u062e\u0627\u0635 \u0642\u0633\u0645 \u06a9\u06d2 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06cc \u0637\u0631\u0641 \u0627\u0634\u0627\u0631\u06c1 \u06a9\u0631\u062a\u06cc \u06c1\u06d2\u060c \u062c\u0633 \u0633\u06d2 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06cc \u0642\u06cc\u0645\u062a\u06cc\u06ba \u0645\u0639\u0627\u0634\u06cc \u0646\u0642\u0635\u0627\u0646 \u06a9\u0648 \u0645\u062f\u0646\u0638\u0631 \u0631\u06a9\u06be\u06d2 \u0628\u063a\u06cc\u0631 \u062e\u0648\u0641\u0632\u062f\u06c1 \u06c1\u0648\u062a\u06cc \u06c1\u06cc\u06ba\u06d4 \u06cc\u06c1 \u0627\u06cc\u06a9 \u0645\u0639\u0646\u06cc \u062e\u06cc\u0632 \u0632\u0645\u0631\u06c1 \u06c1\u06d2\u060c \u06cc\u06c1\u0627\u06ba \u062a\u06a9 \u06a9\u06c1 \u0627\u06af\u0631 \u0627\u062e\u062a\u06cc\u0627\u0631\u0627\u062a \u06a9\u0627 \u0688\u06cc\u0679\u0627 \u0627\u0633 \u06a9\u06cc \u0645\u0632\u06cc\u062f \u062a\u0641\u0635\u06cc\u0644 \u0633\u06d2 \u0648\u0636\u0627\u062d\u062a \u0646\u06c1\u06cc\u06ba \u06a9\u0631\u0633\u06a9\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<h2 id=\"heading-event-2-yen-carry-unwind-aug-5-2024\">\u0648\u0627\u0642\u0639\u06c1 2: \u06cc\u0646 \u06a9\u06cc\u0631\u06cc \u06a9\u0648 \u06a9\u06be\u0648\u0644\u06cc\u06ba\u060c 5 \u0627\u06af\u0633\u062a 2024<\/h2>\n<p>\u0627\u06af\u0633\u062a 2024 \u06a9\u0627 \u0648\u0627\u0642\u0639\u06c1 \u062a\u06cc\u0646 \u0648\u0627\u0642\u0639\u0627\u062a \u0645\u06cc\u06ba \u0633\u0628 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u062a\u062c\u0632\u06cc\u0627\u062a\u06cc \u0637\u0648\u0631 \u067e\u0631 \u0628\u06be\u0631\u067e\u0648\u0631 \u06c1\u06d2\u06d4 \u06cc\u06c1 \u0627\u0633 \u062e\u06cc\u0627\u0644 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0648\u0627\u0636\u062d \u062a\u0631\u06cc\u0646 \u0688\u06cc\u0679\u0627 \u0633\u067e\u0648\u0631\u0679 \u0628\u06be\u06cc \u06c1\u06d2 \u06a9\u06c1 \u06a9\u0631\u06cc\u0634 \u06c1\u0648\u0646\u06d2 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u0642\u06cc\u0645\u062a \u06a9\u0627 \u062a\u0646\u0627\u0624 \u0645\u0646\u0638\u0645 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0633\u06af\u0646\u0644 \u062a\u06be\u0627\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_660_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0627\u06cc\u0648\u0646\u0679 2 \u0642\u06cc\u0645\u062a \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u062a\u0631\u062a\u06cc\u0628 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u0642\u06cc\u0645\u062a \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u06a9\u06cc \u062a\u0631\u062a\u06cc\u0628 \u0627\u06cc\u06a9 \u0641\u0648\u0631\u06cc \u06a9\u06c1\u0627\u0646\u06cc \u0628\u06cc\u0627\u0646 \u06a9\u0631\u062a\u06cc \u06c1\u06d2\u06d4 VIXY 20.52% \u06a9\u06cc T+1 \u062d\u0631\u06a9\u062a \u06a9\u06d2 \u0633\u0627\u062a\u06be \u067e\u06be\u0679\u0627\u06d4 TLT 2.24% \u06a9\u06d2 \u0633\u0627\u062a\u06be \u062f\u0648\u0633\u0631\u0627 \u0633\u0628 \u0633\u06d2 \u0628\u0691\u0627 \u0645\u0648\u0648\u0631 \u062a\u06be\u0627 \u0627\u0648\u0631 \u0627\u0633\u06d2 \u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1 \u06a9\u06d2 \u0637\u0648\u0631 \u067e\u0631 \u0628\u0648\u0644\u06cc \u0644\u06af\u0627\u0626\u06cc \u06af\u0626\u06cc\u06d4 \u0627\u0633\u0679\u0627\u06a9 \u067e\u0648\u0631\u06d2 \u0628\u0648\u0631\u0688 \u0645\u06cc\u06ba \u0641\u0631\u0648\u062e\u062a \u06c1\u0648 \u06af\u0626\u06d2\u06d4<\/p>\n<p>\u0644\u06cc\u06a9\u0648\u06cc\u0688\u06cc\u0679\u06cc \u062c\u06be\u0679\u06a9\u0627 \u0627\u06cc\u0633\u0627 \u0644\u06af\u062a\u0627 \u06c1\u06d2\u06d4 \u062c\u0628 \u0628\u06cc\u0646\u06a9 \u0622\u0641 \u062c\u0627\u067e\u0627\u0646 (BoJ) \u0646\u06d2 31 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648 \u063a\u06cc\u0631 \u0645\u062a\u0648\u0642\u0639 \u0637\u0648\u0631 \u067e\u0631 \u0634\u0631\u062d \u0633\u0648\u062f \u0645\u06cc\u06ba \u0627\u0636\u0627\u0641\u06c1 \u06a9\u06cc\u0627 \u062a\u0648 \u06cc\u0646 \u06a9\u06cc\u0631\u06cc \u0679\u0631\u06cc\u0688 \u0645\u06cc\u06ba \u0646\u0645\u0627\u06cc\u0627\u06ba \u0637\u0648\u0631 \u067e\u0631 \u0645\u0639\u0627\u06c1\u062f\u06c1 \u06c1\u0648\u0627\u06d4<\/p>\n<p>\u06cc\u06c1 \u0641\u0631\u0648\u062e\u062a \u0645\u0639\u0627\u0634\u06cc \u0628\u0646\u06cc\u0627\u062f\u0648\u06ba \u0645\u06cc\u06ba \u062a\u0628\u062f\u06cc\u0644\u06cc \u06a9\u06cc \u0648\u062c\u06c1 \u0633\u06d2 \u0646\u06c1\u06cc\u06ba \u06c1\u0648\u0626\u06cc\u06d4 \u067e\u0648\u0632\u06cc\u0634\u0646\u0646\u06af \u06a9\u06d2 \u0630\u0631\u06cc\u0639\u06c1 \u06a9\u0627\u0631\u0641\u0631\u0645\u0627\u06d4 \u0648\u06c1 \u062a\u0627\u062c\u0631 \u062c\u0646\u06c1\u0648\u06ba \u0646\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u067e\u06cc\u062f\u0627\u0648\u0627\u0631 \u0648\u0627\u0644\u06d2 \u0627\u062b\u0627\u062b\u06d2 \u062e\u0631\u06cc\u062f\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0633\u0633\u062a\u0627 \u06cc\u0646 \u0627\u062f\u06be\u0627\u0631 \u0644\u06cc\u0627 \u062a\u06be\u0627\u060c \u0627\u0646\u06c1\u06cc\u06ba \u0627\u067e\u0646\u06d2 \u0639\u06c1\u062f\u0648\u06ba \u06a9\u0648 \u067e\u0648\u0631\u0627 \u06a9\u0631\u0646\u06d2 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0627\u0646 \u0627\u062b\u0627\u062b\u0648\u06ba \u06a9\u0648 \u0628\u06cc\u06a9 \u0648\u0642\u062a \u0628\u06cc\u0686\u0646\u0627 \u067e\u0691\u062a\u0627 \u062a\u06be\u0627\u06d4 \u0627\u062b\u0627\u062b\u0648\u06ba \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u062a\u0639\u0644\u0642 \u0679\u0648\u0679 \u06af\u06cc\u0627 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u0633\u0628 \u06a9\u0686\u06be \u0627\u06cc\u06a9 \u06c1\u06cc \u0645\u06cc\u06a9\u0627\u0646\u06a9\u06cc \u0648\u062c\u0648\u06c1\u0627\u062a \u06a9\u06cc \u0628\u0646\u0627 \u067e\u0631 \u0628\u06cc\u0686\u0627 \u06af\u06cc\u0627 \u062a\u06be\u0627\u06d4<\/p>\n<p>\u0627\u0628 \u0627\u06cc\u06a9 \u0646\u0638\u0631 \u0688\u0627\u0644\u06cc\u06ba \u06a9\u06c1 \u0627\u0633 \u0622\u067e\u0631\u06cc\u0634\u0646 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u0645\u0633\u062e \u0634\u062f\u06c1 \u0688\u06cc\u0679\u0627 \u0646\u06d2 \u06a9\u06cc\u0627 \u06a9\u06cc\u0627\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_622_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0648\u0627\u0642\u0639\u06c1 2 IV \u0627\u0633\u06a9\u06cc\u0648 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>30 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648\u060c \u062d\u0627\u062f\u062b\u06d2 \u0633\u06d2 \u0686\u06be \u062f\u0646 \u067e\u06c1\u0644\u06d2\u060c \u0633\u06a9\u06cc\u0648 0.087 \u062a\u06a9 \u0628\u0691\u06be \u06af\u06cc\u0627\u06d4 \u06cc\u06c1 \u067e\u0648\u0631\u06cc \u067e\u0631\u06cc \u0627\u06cc\u0648\u0646\u0679 \u0648\u0646\u0688\u0648 \u0645\u06cc\u06ba \u0646\u0645\u0627\u06cc\u0627\u06ba \u0645\u0627\u0631\u062c\u0646 \u0633\u06d2 \u0633\u0628 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u067e\u0691\u06be\u0627\u0626\u06cc \u06c1\u06d2\u06d4 \u0627\u0633 \u06a9\u06d2 \u0628\u0639\u062f \u06cc\u06c1 31 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648 \u0633\u06a9\u0691 \u06af\u06cc\u0627 \u0627\u0648\u0631 1 \u0627\u0648\u0631 2 \u0627\u06af\u0633\u062a \u06a9\u0648 \u062f\u0648\u0628\u0627\u0631\u06c1 \u0637\u0644\u0648\u0639 \u06c1\u0648\u0627\u06d4 5 \u0627\u06af\u0633\u062a \u06a9\u0648 \u06af\u0631\u0627\u06d4<\/p>\n<p>30 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0627 \u0627\u0633\u067e\u0627\u0626\u06a9 \u0627\u0633 \u062a\u062c\u0632\u06cc\u06c1 \u0645\u06cc\u06ba \u0633\u0628 \u0633\u06d2 \u0627\u06c1\u0645 \u0688\u06cc\u0679\u0627 \u067e\u0648\u0627\u0626\u0646\u0679 \u06c1\u06d2\u06d4 BOJ \u0633\u0648\u062f \u06a9\u06cc \u0634\u0631\u062d \u06a9\u0627 \u0641\u06cc\u0635\u0644\u06c1 \u062c\u0633 \u0646\u06d2 \u0646\u0631\u0645\u06cc \u06a9\u0648 \u0645\u062a\u062d\u0631\u06a9 \u06a9\u06cc\u0627 \u062a\u06be\u0627 31 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648 \u06a9\u06cc\u0627 \u06af\u06cc\u0627 \u062a\u06be\u0627\u06d4 \u0622\u067e\u0634\u0646\u0632 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0646\u06d2 \u0679\u0631\u06af\u0631\u0646\u06af \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u0628\u0639\u062f \u0646\u06c1\u06cc\u06ba\u060c \u067e\u0686\u06be\u0644\u06d2 \u062f\u0646 \u06a9\u06d2 \u0627\u0636\u0627\u0641\u06d2 \u0633\u06d2 \u0646\u06cc\u0686\u06d2 \u0648\u0627\u0644\u06d2 \u062e\u0637\u0631\u06d2 \u06a9\u06cc \u0642\u06cc\u0645\u062a \u06a9\u0627 \u062a\u0639\u06cc\u0646 \u06a9\u06cc\u0627\u06d4 \u062e\u0628\u0631 \u06a9\u06d2 \u0639\u0627\u0645 \u06c1\u0648\u0646\u06d2 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u06a9\u0648\u0626\u06cc\u060c \u06cc\u0627 \u0634\u0627\u06cc\u062f \u0628\u06c1\u062a \u0633\u06d2 \u0644\u0648\u06af\u060c SPY \u062a\u062d\u0641\u0638 \u06a9\u06d2 \u0644\u06cc\u06d2 \u0627\u062f\u0627\u0626\u06cc\u06af\u06cc \u06a9\u0631 \u0631\u06c1\u06d2 \u062a\u06be\u06d2\u06d4<\/p>\n<p>\u0627\u0628 \u0627\u06cc\u06a9 \u0646\u0638\u0631 \u0688\u0627\u0644\u06cc\u06ba \u06a9\u06c1 \u0622\u067e \u0646\u06d2 \u0627\u0633\u06cc \u0639\u0631\u0635\u06d2 \u06a9\u06d2 \u062f\u0648\u0631\u0627\u0646 \u06a9\u06cc\u0633\u0627 \u0645\u062d\u0633\u0648\u0633 \u06a9\u06cc\u0627\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_977_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0648\u0627\u0642\u0639\u06c1 2 \u062c\u0630\u0628\u0627\u062a \u0627\u0648\u0631 \u062a\u0639\u0635\u0628 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>17 \u062c\u0648\u0644\u0627\u0626\u06cc \u0633\u06d2 31 \u062c\u0648\u0644\u0627\u0626\u06cc \u062a\u06a9\u060c \u062c\u0630\u0628\u0627\u062a 0.934 \u0627\u0648\u0631 0.995 \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0631\u06c1\u06d2\u06d4 \u06cc\u06c1 \u06c1\u0631 \u0631\u0648\u0632 \u0632\u06cc\u0627\u062f\u06c1 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u0637\u0627\u0642\u062a \u06a9\u06d2 \u0642\u0631\u06cc\u0628 \u06c1\u06d2\u06d4 30 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648\u060c \u0633\u06a9\u06cc\u0648 0.087 \u062a\u06a9 \u0628\u0691\u06be \u06af\u06cc\u0627\u060c \u0627\u0648\u0631 \u062c\u0630\u0628\u0627\u062a 0.963 \u062a\u06be\u06d2\u06d4 \u062e\u0628\u0631\u0648\u06ba \u06a9\u06d2 \u0686\u06a9\u0631 \u0645\u06cc\u06ba \u0645\u062c\u06be\u06d2 \u06a9\u0648\u0626\u06cc \u062f\u0644\u0686\u0633\u067e\u06cc \u0646\u06c1\u06cc\u06ba \u062a\u06be\u06cc\u06d4 \u06cc\u06c1 \u0622\u067e\u0634\u0646\u0632 \u06a9\u0627 \u0628\u0627\u0632\u0627\u0631 \u062a\u06be\u0627\u06d4<\/p>\n<p>\u062c\u0630\u0628\u0627\u062a \u0628\u0627\u0644\u0622\u062e\u0631 2 \u0627\u06af\u0633\u062a \u06a9\u0648 0.335 \u067e\u0631 \u06af\u0631\u06d2\u060c \u062a\u06cc\u0646 \u062f\u0646 \u0628\u0639\u062f \u0627\u0648\u0631 \u0688\u0648\u0628\u0646\u06d2 \u0633\u06d2 \u062a\u06cc\u0646 \u062f\u0646 \u067e\u06c1\u0644\u06d2\u06d4 \u0627\u0633 \u0648\u0642\u062a \u062a\u06a9\u060c \u0622\u067e\u0634\u0646\u0632 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u067e\u06c1\u0644\u06d2 \u06c1\u06cc \u062a\u0642\u0631\u06cc\u0628\u0627\u064b \u0627\u06cc\u06a9 \u06c1\u0641\u062a\u06d2 \u0633\u06d2 \u062a\u0646\u0627\u0624 \u06a9\u06d2 \u0633\u06af\u0646\u0644 \u0628\u06be\u06cc\u062c \u0631\u06c1\u06cc \u062a\u06be\u06cc\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490140_487_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0627\u06cc\u0648\u0646\u0679 2 \u0679\u0648\u0679\u0644 \u0627\u0633\u0679\u0631\u06cc\u0633 \u0627\u0633\u06a9\u0648\u0631 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u062c\u0627\u0645\u0639 \u0631\u067e\u0648\u0631\u0679 \u0645\u06cc\u06ba 2 \u0627\u06af\u0633\u062a \u06a9\u0648 \u062a\u0646\u0627\u0624 \u06a9\u06d2 \u062f\u0646 \u06a9\u06d2 \u0637\u0648\u0631 \u067e\u0631 \u0646\u0627\u0645\u0632\u062f \u06a9\u06cc\u0627 \u06af\u06cc\u0627 \u06c1\u06d2\u060c \u062c\u0648 \u0632\u06cc\u0627\u062f\u06c1 \u062a\u0631 \u0627\u0631\u062a\u0628\u0627\u0637 \u06a9\u06d2 \u062a\u062c\u0632\u06cc\u06c1 \u06a9\u06d2 \u0627\u0634\u0627\u0631\u0648\u06ba \u067e\u0631 \u0645\u0628\u0646\u06cc \u06c1\u06d2\u06d4 SPY\/GLD \u0631\u0648\u0644\u0646\u06af \u06a9\u0627 \u062a\u0639\u0644\u0642 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u06d2 \u0622\u062e\u0631 \u0633\u06d2 \u062e\u0631\u0627\u0628 \u06c1\u0648 \u06af\u06cc\u0627 \u06c1\u06d2 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u0633\u0648\u0646\u0627 \u0627\u0633\u0679\u0627\u06a9 \u0633\u06d2 \u062f\u0648\u06af\u0646\u0627 \u06c1\u0648\u0646\u06d2 \u0644\u06af\u0627 \u06c1\u06d2\u06d4 \u06a9\u0645\u067e\u0648\u0632\u0679 \u0646\u06d2 30 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u06d2 \u0688\u0633\u0679\u0648\u0631\u0634\u0646 \u0627\u0633\u067e\u0627\u0626\u06a9 \u06a9\u0648 \u0635\u0627\u0641 \u0637\u0648\u0631 \u067e\u0631 \u06af\u0631\u0641\u062a \u0645\u06cc\u06ba \u0646\u06c1\u06cc\u06ba \u0644\u06cc\u0627 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u0688\u0633\u0679\u0648\u0631\u0634\u0646 \u0633\u06af\u0646\u0644 \u0627\u06af\u0644\u06d2 \u062f\u0646 \u06a9\u0645\u067e\u0631\u06cc\u0633 \u06c1\u0648 \u06af\u06cc\u0627 \u062a\u06be\u0627\u060c \u062c\u0633 \u0633\u06d2 \u0632\u06cc\u0688 \u0633\u06a9\u0648\u0631 \u062f\u0648\u0628\u0627\u0631\u06c1 \u06a9\u0645 \u06c1\u0648 \u06af\u06cc\u0627 \u062a\u06be\u0627\u06d4 \u062a\u0627\u06c1\u0645\u060c 30 \u062c\u0648\u0644\u0627\u0626\u06cc \u06a9\u0648 \u062a\u06cc\u0632 \u062a\u0631\u0686\u06be\u0627 \u0627\u0648\u0631 2 \u0627\u06af\u0633\u062a \u06a9\u0648 \u062c\u0627\u0645\u0639 \u0627\u0636\u0627\u0641\u06c1 \u0646\u06d2 \u0645\u0644 \u06a9\u0631 5 \u0627\u06af\u0633\u062a \u06a9\u06d2 \u062d\u0627\u062f\u062b\u06d2 \u0633\u06d2 \u067e\u06c1\u0644\u06d2 \u0633\u0637\u062d 2 \u06a9\u06cc \u0648\u0627\u0631\u0646\u0646\u06af \u0641\u0631\u0627\u06c1\u0645 \u06a9\u06cc\u06d4<\/p>\n<p>\u06cc\u0646 \u06a9\u06cc\u0631\u06cc unwind \u062a\u06be\u06cc\u0633\u0633 \u06a9\u06d2 \u0627\u0633 \u062a\u062c\u0632\u06cc\u06d2 \u0645\u06cc\u06ba \u0633\u0628 \u0633\u06d2 \u0648\u0627\u0636\u062d \u0645\u062b\u0627\u0644 \u06c1\u06d2 \u062c\u0633 \u0645\u06cc\u06ba \u0633\u0627\u062e\u062a\u06cc \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06d2 \u0627\u0634\u0627\u0631\u06d2 \u0627\u06cc\u0633\u06cc \u0645\u0639\u0644\u0648\u0645\u0627\u062a \u0641\u0631\u0627\u06c1\u0645 \u06a9\u0631\u062a\u06d2 \u06c1\u06cc\u06ba \u062c\u0648 \u062e\u0628\u0631\u0648\u06ba \u06a9\u06d2 \u062c\u0630\u0628\u0627\u062a \u0646\u06c1\u06cc\u06ba \u06a9\u0631\u062a\u06d2\u06d4 \u0622\u067e\u0634\u0646\u0632 \u06a9\u06cc \u0645\u0627\u0631\u06a9\u06cc\u0679 \u063a\u06cc\u0631 \u0645\u062a\u0648\u0642\u0639 \u062a\u06be\u06cc\u06d4 \u0644\u06cc\u06a9\u0646 \u06cc\u06c1 \u06a9\u0633\u06cc \u0627\u06cc\u0633\u06cc \u0686\u06cc\u0632 \u06a9\u06cc \u0642\u06cc\u0645\u062a \u062a\u06be\u06cc \u062c\u0648 \u0633\u0631\u062e\u06cc\u0648\u06ba \u0645\u06cc\u06ba \u0646\u06c1\u06cc\u06ba \u062a\u06be\u06cc\u06d4<\/p>\n<h2 id=\"heading-event-3-us-china-tariff-shock-apr-2025\"><strong>\u0648\u0627\u0642\u0639\u06c1 3: \u06cc\u0648 \u0627\u06cc\u0633 \u0686\u06cc\u0646 \u0679\u06cc\u0631\u0641 \u06a9\u0627 \u0627\u062b\u0631\u060c \u0627\u067e\u0631\u06cc\u0644 2025<\/strong><\/h2>\n<p>\u0627\u067e\u0631\u06cc\u0644 2025 \u06a9\u0627 \u0679\u06cc\u0631\u0641 \u062c\u06be\u0679\u06a9\u0627 \u0627\u0633 \u062a\u062c\u0632\u06cc\u06d2 \u06a9\u0627 \u0633\u0628 \u0633\u06d2 \u062f\u0644\u0686\u0633\u067e \u0648\u0627\u0642\u0639\u06c1 \u06c1\u06d2\u06d4 \u0627\u0633 \u0644\u06cc\u06d2 \u0646\u06c1\u06cc\u06ba \u06a9\u06c1 \u0633\u06af\u0646\u0644 \u0646\u06d2 \u06a9\u0627\u0645 \u06a9\u06cc\u0627\u060c \u0628\u0644\u06a9\u06c1 \u0627\u0633 \u0644\u06cc\u06d2 \u06a9\u06c1 \u062c\u06c1\u0627\u06ba \u0633\u06af\u0646\u0644 \u0641\u06cc\u0644 \u06c1\u0648\u0627\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490141_914_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0627\u06cc\u0648\u0646\u0679 3 \u0642\u06cc\u0645\u062a \u0627\u06cc\u0688\u062c\u0633\u0679\u0645\u0646\u0679 \u06a9\u06cc \u062a\u0631\u062a\u06cc\u0628 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u062a\u0639\u062f\u0627\u062f \u0633\u0646\u062c\u06cc\u062f\u06c1 \u06c1\u06d2\u06d4 SPY T+1 \u067e\u0631 5.85% \u06af\u0631 \u06af\u06cc\u0627 \u0627\u0648\u0631 T+3 \u062a\u06a9 \u06af\u0631\u062a\u0627 \u0631\u06c1\u0627\u06d4 \u062a\u0645\u0627\u0645 \u0627\u0633\u0679\u0627\u06a9 \u0633\u06cc\u06a9\u0679\u0631\u0632 4% \u0627\u0648\u0631 9% \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0686\u0644\u06d2 \u06af\u0626\u06d2\u06d4 XLE \u06a9\u06cc \u0642\u06cc\u0627\u062f\u062a 9.20% \u06a9\u06d2 \u0633\u0627\u062a\u06be \u06c1\u0648\u0626\u06cc\u060c \u062c\u0648 \u062a\u0648\u0627\u0646\u0627\u0626\u06cc \u0627\u0648\u0631 \u062a\u062c\u0627\u0631\u062a \u067e\u0631 \u0645\u0646\u062d\u0635\u0631 \u0634\u0639\u0628\u0648\u06ba \u06a9\u06d2 \u0679\u06cc\u0631\u0641 \u067e\u0627\u0644\u06cc\u0633\u06cc \u0645\u06cc\u06ba \u0628\u0631\u0627\u06c1 \u0631\u0627\u0633\u062a \u0646\u0645\u0627\u0626\u0634 \u06a9\u06cc \u0639\u06a9\u0627\u0633\u06cc \u06a9\u0631\u062a\u06cc \u06c1\u06d2\u06d4 ITA 8.44% \u06a9\u06d2 \u0633\u0627\u062a\u06be \u0627\u0633 \u06a9\u06d2 \u0628\u0639\u062f \u0631\u06c1\u0627\u06d4 \u0679\u06cc\u06a9\u0646\u0627\u0644\u0648\u062c\u06cc 6.59 \u0641\u06cc\u0635\u062f \u06af\u0631 \u06af\u0626\u06cc\u06d4<\/p>\n<p>\u06cc\u06c1 \u0627\u062a\u0627\u0631 \u0686\u0691\u06be\u0627\u0624 \u06a9\u06cc \u062d\u0631\u06a9\u062a \u0646\u06c1\u06cc\u06ba \u06c1\u06d2\u06d4 \u0648\u06c1 \u0627\u067e\u0646\u06cc \u0642\u06cc\u0645\u062a\u0648\u06ba \u06a9\u0648 \u0627\u06cc\u0688\u062c\u0633\u0679 \u06a9\u0631 \u0631\u06c1\u06d2 \u06c1\u06cc\u06ba \u0627\u0648\u0631 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u0627\u067e\u0646\u06d2 \u062a\u062e\u0645\u06cc\u0646\u0648\u06ba \u06a9\u0648 \u0627\u06cc\u0688\u062c\u0633\u0679 \u06a9\u0631 \u0631\u06c1\u06cc \u06c1\u06d2 \u06a9\u06c1 \u0633\u0627\u062e\u062a\u06cc \u0637\u0648\u0631 \u067e\u0631 \u0645\u062e\u062a\u0644\u0641 \u062a\u062c\u0627\u0631\u062a\u06cc \u0646\u0638\u0627\u0645\u0648\u06ba \u06a9\u06d2 \u062a\u062d\u062a \u06cc\u06c1 \u06a9\u0645\u067e\u0646\u06cc\u0627\u06ba \u062f\u0631\u062d\u0642\u06cc\u0642\u062a \u06a9\u062a\u0646\u06cc \u0642\u06cc\u0645\u062a\u06cc \u06c1\u06cc\u06ba\u06d4<\/p>\n<p>\u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1\u0648\u06ba \u06a9\u0627 \u0628\u0631\u062a\u0627\u0624 \u0627\u0633 \u0686\u0627\u0631\u0679 \u06a9\u0627 \u0633\u0628 \u0633\u06d2 \u0632\u06cc\u0627\u062f\u06c1 \u062a\u0634\u062e\u06cc\u0635\u06cc \u062d\u0635\u06c1 \u06c1\u06d2\u06d4 T+1 \u067e\u0631 GLD \u0645\u06cc\u06ba 2.34% \u0627\u0636\u0627\u0641\u06c1 \u06c1\u0648\u0627 \u0627\u0648\u0631 \u0627\u0633 \u06a9\u06d2 \u0628\u0639\u062f \u0645\u0633\u0644\u0633\u0644 \u0627\u0636\u0627\u0641\u06c1 \u06c1\u0648\u0627\u06d4 TLT \u06a9\u0648 T+1 \u067e\u0631 \u0635\u0631\u0641 1.09% \u0645\u0646\u062a\u0642\u0644 \u06a9\u0631\u0646\u06d2 \u06a9\u06d2 \u0628\u0639\u062f \u0641\u0631\u0648\u062e\u062a \u06a9\u06cc\u0627 \u06af\u06cc\u0627\u06d4 \u0628\u0627\u0646\u0688\u0632 \u0627\u0648\u0631 \u0627\u0633\u0679\u0627\u06a9 \u0627\u06cc\u06a9 \u0633\u0627\u062a\u06be \u06af\u0631 \u06af\u0626\u06d2\u06d4 \u0628\u0627\u0646\u0688\u0632 \u0645\u06cc\u06ba \u06a9\u0648\u0626\u06cc \u0627\u0691\u0627\u0646 \u0646\u06c1\u06cc\u06ba \u062a\u06be\u06cc\u06d4 \u0648\u0627\u062d\u062f \u0635\u0627\u0641 \u0627\u0648\u0631 \u0645\u062d\u0641\u0648\u0638 \u067e\u0646\u0627\u06c1 \u06af\u0627\u06c1 \u0633\u0648\u0646\u0627 \u062a\u06be\u0627\u06d4<\/p>\n<p>\u06cc\u06c1 \u0648\u06c1\u06cc \u0686\u06cc\u0632 \u06c1\u06d2 \u062c\u0648 \u0633\u0627\u062e\u062a\u06cc \u062c\u06be\u0679\u06a9\u0648\u06ba \u06a9\u0648 \u062f\u06cc\u06af\u0631 \u062f\u0648 \u0642\u0633\u0645 \u06a9\u06d2 \u0648\u0627\u0642\u0639\u0627\u062a \u0633\u06d2 \u0645\u0645\u062a\u0627\u0632 \u06a9\u0631\u062a\u06cc \u06c1\u06d2\u06d4 \u06af\u0648\u0644\u0688 \u0627\u0648\u0631 \u0628\u0627\u0646\u0688\u0632 \u062f\u0648\u0646\u0648\u06ba \u0627\u0639\u062a\u0645\u0627\u062f \u06a9\u06d2 \u062c\u06be\u0679\u06a9\u06d2 \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0628\u0691\u06be\u062a\u06d2 \u06c1\u06cc\u06ba\u06d4 \u0644\u06cc\u06a9\u0648\u06cc\u0688\u06cc\u0679\u06cc \u062c\u06be\u0679\u06a9\u0648\u06ba \u06a9\u06d2 \u062f\u0631\u0645\u06cc\u0627\u0646 \u0628\u0627\u0646\u0688\u0632 \u0645\u0636\u0628\u0648\u0637\u06cc \u0633\u06d2 \u0648\u0627\u067e\u0633 \u0627\u0686\u06be\u0627\u0644\u062a\u06d2 \u06c1\u06cc\u06ba\u06d4 \u0633\u0627\u062e\u062a\u06cc \u062c\u06be\u0679\u06a9\u0648\u06ba \u0633\u06d2\u060c \u0628\u0627\u0646\u0688\u0632 \u06a9\u0648\u0626\u06cc \u062a\u062d\u0641\u0638 \u0641\u0631\u0627\u06c1\u0645 \u0646\u06c1\u06cc\u06ba \u06a9\u0631\u062a\u06d2 \u06a9\u06cc\u0648\u0646\u06a9\u06c1 \u062c\u06be\u0679\u06a9\u0627 \u062e\u0648\u062f \u0645\u0627\u0644\u06cc \u0627\u0648\u0631 \u0645\u0627\u0644\u06cc\u0627\u062a\u06cc \u0627\u0645\u06a9\u0627\u0646\u0627\u062a \u067e\u0631 \u0634\u06a9 \u067e\u06cc\u062f\u0627 \u06a9\u0631\u062a\u0627 \u06c1\u06d2\u06d4 \u0633\u0648\u0646\u0627 \u0628\u063a\u06cc\u0631 \u06a9\u0633\u06cc \u06c1\u0645 \u0645\u0646\u0635\u0628 \u06a9\u06d2 \u0648\u0627\u062d\u062f \u0627\u062b\u0627\u062b\u06c1 \u0628\u0646 \u062c\u0627\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490141_904_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0648\u0627\u0642\u0639\u06c1 3 IV \u0627\u0633\u06a9\u06cc\u0648 \u0686\u0627\u0631\u0679\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u06cc\u06c1 \u0648\u06c1 \u062c\u06af\u06c1 \u06c1\u06d2 \u062c\u06c1\u0627\u06ba \u062a\u062c\u0632\u06cc\u06c1 \u0648\u0627\u0642\u0639\u06cc \u0628\u06d2 \u0686\u06cc\u0646 \u06c1\u0648 \u062c\u0627\u062a\u0627 \u06c1\u06d2\u06d4<\/p>\n<p>\u06a9\u0631\u06cc\u0634 \u0633\u06d2 \u0627\u06cc\u06a9 \u062f\u0646 \u067e\u06c1\u0644\u06d2 2 \u0627\u067e\u0631\u06cc\u0644 2025 \u06a9\u0648 \u0633\u06a9\u06cc\u0648 -0.023 \u062a\u06be\u0627\u06d4 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\u06cc\u06c1 \u0637\u0631\u06cc\u0642\u06c1 \u06a9\u0627\u0631 \u0645\u06cc\u06ba \u06a9\u0648\u0626\u06cc \u062e\u0627\u0645\u06cc \u0646\u06c1\u06cc\u06ba \u06c1\u06d2\u06d4 \u06cc\u06c1 \u0627\u06cc\u06a9 \u062f\u0631\u06cc\u0627\u0641\u062a \u06c1\u06d2\u06d4 Skew \u067e\u06cc\u0645\u0627\u0626\u0634 \u06a9\u0631\u062a\u0627 \u06c1\u06d2 \u06a9\u06c1 \u0645\u0627\u0631\u06a9\u06cc\u0679 \u06a9\u06d2 \u0634\u0631\u06a9\u0627\u0621 \u062a\u062d\u0641\u0638 \u06a9\u06d2 \u0644\u06cc\u06d2 \u06a9\u062a\u0646\u06cc \u0631\u0642\u0645 \u0627\u062f\u0627 \u06a9\u0631\u0646\u06d2 \u06a9\u0648 \u062a\u06cc\u0627\u0631 \u06c1\u06cc\u06ba\u06d4 Skew \u0627\u0646\u062a\u0628\u0627\u06c1 \u0646\u06c1\u06cc\u06ba \u06a9\u0631\u062a\u0627 \u06c1\u06d2 \u0627\u06af\u0631 \u0634\u0631\u06a9\u0627\u0621 \u0646\u06d2 \u0627\u062c\u062a\u0645\u0627\u0639\u06cc \u0637\u0648\u0631 \u067e\u0631 \u0641\u06cc\u0635\u0644\u06c1 \u06a9\u06cc\u0627 \u06c1\u06d2 \u06a9\u06c1 \u062e\u0637\u0631\u06c1 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enumerate(events.items()):\n    window = event_windows[name]['window']\n    anchor = event_windows[name]['anchor']\n    anchor_idx = window.index.get_loc(anchor)\n\n    start_i = max(anchor_idx - 3, 0)\n    end_i = min(anchor_idx + 8, len(window))\n    slice_df = window.iloc[start_i:end_i].copy()\n    slice_df.columns = [c.upper() for c in slice_df.columns]\n\n    anchor_pos = anchor_idx - start_i\n    anchor_vals = slice_df.iloc[anchor_pos]\n    pct_df = ((slice_df - anchor_vals) \/ anchor_vals * 100).round(2)\n\n    n_days = len(pct_df)\n    t_labels = [f'T{d:+d}' for d in range(-anchor_pos, -anchor_pos + n_days)]\n\n    fig.add_trace(go.Heatmap(\n        z=pct_df.values.T,\n        x=t_labels,\n        y=list(pct_df.columns),\n        colorscale=\"RdYlGn\",\n        zmid=0,\n        zmin=-15,\n        zmax=15,\n        showscale=(i == 2),\n        colorbar=dict(title=\"% return from T0\")\n    ), row=1, col=i+1)\n\nfig.update_layout(\n    title=\"Asset Return Heatmap - T-3 to T+7 across Events\",\n    template=\"plotly_dark\",\n    height=500\n)\n\nfor annotation in fig['layout']['annotations']:\n    annotation['font'] = dict(size=11)\n    annotation['y'] = 1.02\n    \nfig.show()\n<\/code><\/pre>\n<p><img decoding=\"async\" src=\"https:\/\/umang.pk\/wp-content\/uploads\/2026\/06\/1781490141_758_\u062c\u063a\u0631\u0627\u0641\u06cc\u0627\u0626\u06cc-\u0633\u06cc\u0627\u0633\u06cc-\u062e\u0637\u0631\u06c1-\u0627\u06cc\u06a9-\u0645\u0633\u0626\u0644\u06c1-\u0646\u06c1\u06cc\u06ba-\u06c1\u06d2\u06d4-\u0627\u0633-\u06a9\u0648-\u062b\u0627\u0628\u062a.png\" alt=\"\u0627\u062b\u0627\u062b\u06c1 \u06c1\u06cc\u0679 \u0645\u06cc\u067e \u067e\u0631 \u0648\u0627\u067e\u0633 \u062c\u0627\u0626\u06cc\u06ba\u06d4\" style=\"display:block;margin:0 auto\" width=\"600\" height=\"400\" loading=\"lazy\" title=\"\"><\/p>\n<p>\u062a\u06cc\u0646 \u067e\u06cc\u0646\u0644 \u06c1\u06cc\u06ba\u060c \u06c1\u0631 \u0627\u06cc\u0648\u0646\u0679 \u06a9\u06d2 \u0644\u06cc\u06d2 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