VIX
Posts about the VIX index itself — VIX beta, term structure, fear gauge interpretation, and the VIX/SPX relationship.
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A 99th percentile NASDAQ vol spike is the fade
Vol spikes on down days usually become the setup for a crush. Read the mechanics before you chase the move higher.
The cheap asymmetric vol is sitting in bonds
VIX is back around 20. That's where the crowd is putting its vol bets.
Alpha book up 3.71%: Delta did the work
Decent week. Alpha Gen book up 3.71%, almost all of it from the Delta sleeve. Long-only also recovered nicely.
The 1-2 week window in VIX worth knowing about
There's a clock in the VIX cycle worth knowing about.
Why I'm not buying VIX here yet
When VIX beta collapses, that usually suggests VIX is a buy. But there is something else...
The VIX regime framework
After two and a half decades trading these markets, my core conclusion on volatility is simple. You have to treat it as a series of regimes, not absolute levels.
The setup I'm watching for a VIX play
Most traders watch VIX rip on a selloff and assume single-stock vols are doing the same thing. They're not. And the gap is one of the most exploitable patterns in index options.
VIX beta is telling you something
By looking at VIX beta, this playbook is broken right now, and here is why...
The "fear gauge" is wrong
CNBC has called VIX the "fear gauge" for 30 years. That's just wrong.
VIX is lying to you
SPX makes a new local low. VIX ticks higher. Looks bearish, right? Not so fast.