NFP Overview
May 8th 2026 - SPX & SPX Options
March NFP numbers came out on a market holiday last month. Was a huge beat with further downside revisions for Feb numbers. Tomorrows NFP scenario laid out by JPM:
‘Goldilocks’ print seems to be ~85k-125k, decent growth but not adding to inflationary pressures.
First revisions continue to see negative prints since ~May 2023.
Straddles down to historic NFP lows… thats despite the still lingering energy shock. One would think that econ data comes back into spotlight but indices firmly in grip of AI FOMO…
Historic NFP data (from https://www.bls.gov/web/empsit/cesnaicsrev.htm):
Final revision sum:
Overnight SPX Straddle performance ($200k fixed notional):
