According to global macro strategist Kay Van-Petersen the divergence cannot go on for that much longer. And given low volatility, Van-Petersen suggests that it may be worth picking up some year-end DAX put options at the 11,000 levels to start building a position.

Van-Petersen also looks at how other assets from USD to oil to metals may perform this week where there will be a lot of focus on inflation data and minutes from central banks including the FOMC, ECB and RBA.