S&P 500 implied volatility was dramatically lower last week. Of significance is VXV which hit 2017 lows. I’m teamed up with an academic putting the final touches on a study showing that VXV leads VIX so this may be a signal that the low for VIX in 2017 hasn’t be established and a close below 10.00 is a distinct possibility.
Beyond the long ETPs on the table, which had a pretty tough week, are some other markets worth noting. First, TYVIX, which was over[...]