U.S. flags hang at the New York Stock Exchange in Manhattan. Photo: Reuters, Andrew Kelly

Omega Advisors’ Leon Cooperman told CNBC that he’s selling straddles on the S&P 500, in the expectation that it will do nothing for the immediate future.

If Cooperman is already in the Nothing trade, then Nothing has become a crowded trade. That hasn’t happened since Martin Heidegger wrote Being and Time in 1927.