Regardless of how you state it, VIX is low. Today VIX got as low as 9.04 which is the second lowest intraday low on record. The lowest print for VIX came on December 27, 1993 with a low of 8.89. I could waste a thousand more words describing how low VIX is relative to history, but instead of doing that I’d like to dive a bit into what it means.
VIX is low, but market volatility is low as well. What I mean by that is the realized volatility of the S&P 500 is[...]