PremiumBack in March, in the first days of the Iran war, Goldman's derivatives desk guru, Brian Garrett, popularized the phrase Green Dot Sundays (in homage to all the Bloomberg accounts that were up and running well ahead of the Monday morning open). But fast forward four months, amid unprecedented market complacency, a tech bubble that has blown 2000 away, and a total reversal of bearish sentiment (not to mention now daily gamma squeezes), Garrett writes in his latest must-read Weekend Prep note (available here for pro subs), that Green Dot Sundays have turned into 'maybe green dot Mondays' (and that's being generous to all those who stay red well into Tuesday, if not beyond).As the Goldman trader writes, summer is in full swing almost everywhere you look: cash volumes have declined significantly since the start of July, the vix traded with a 14 handle on Friday, the 1 week straddle is priced similar to what you’d see during new year’s eve holidays, the S&P is less than 0.5% away from another record high … and Goldman's panic indicator closed with a 1 handle (the lowest since covid years).