Hyperion Fund ended June +1.01% and July +1.68%. Hyperion Fund is +8.50% on the year.

As July came to a close, anticipation reached new heights, with all eyes on the Federal Reserve’s meeting and press conference. Investors, eager for signs of relief, speculated about potential rate cuts, with Fed Funds Futures pricing in a September move.

In the midst of moderate volatility, our Strategic and Active Range strategies capitalized on trading opportunities. The S&P’s pullback from record highs above 5600 triggered profitable outcomes from the ratio put spreads, driving our standout performance for the month. Meanwhile, our Tactical and Directional Spread strategies thrived in this environment, both delivering solid gains.

While volatility has remained uncharacteristically low this year— with the VIX exceeding 20 on just one occasion—July’s market retreat began to stir some upward movement. The market’s calmness was surprising, especially given the political upheaval in the U.S., including an attempted assassination on former President Trump and President Biden’s announcement to forgo re-election. These monumental events, while barely causing a ripple in the short term, carry potential long-term market consequences that have yet to be realized.

At Hyperion Fund, we constantly search for hidden market signals that may not be fully appreciated by the broader investment community, positioning ourselves to seize opportunities others may overlook.