Macro Volatility Digest

Week of 11/2/2026: Tech Rout, Muted Vol: Bullish Positioning Unwinds

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While equities sold off last week on disappointing Tech earnings, implied vols were fairly muted across asset classes. Learn more in this week's Macro Volatility Digest.

Macro Volatility Digest

Week of 10/26/2026: Tech Risk Premium Rising Ahead of Key Earnings

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Week of 10/19/2026: Scramble for Downside Hedges Fuels VIX Surge Ahead of MegaCap Earnings

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Week of 10/12/2026: Volatilities Fall on Oil/Yield Reprieve as the S&P Rallies Into Earnings Season

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Week of 10/5/2026: Equity Markets Remain Resilient Amidst Continued Yield Surge

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Week of 9/28/2026: Equities Unfazed by Spike in Rates Volatility

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Week of 9/21/2026: Oil-Rates Correlation Jumps to a 35-Year High

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Week of 9/14/2026: Macro Uncertainty Fuels Hedging Demand Ahead of FOMC

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Week of 8/31/2026: Equity Volatility Falls to Near a 1-Year Low Post Jackson Hole

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Week of 8/24/2026: Cross-Asset Volatilities Rise as Treasury Endeavors to Avert Yield Contagion

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Week of 8/17/2026: Volatility/Convexity Premia Fall to Lowest YTD Levels on Benign Inflation Data

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Week of 8/10/2026: SPX® Skew Collapses on Upside Chasing

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Week of 8/3/2026: The Fed Holds, But Bond Volatility Breaks Higher

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Week of 7/27/2026: Retail Stays Bullish on Hyperscalers Ahead of Earnings

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Week of 7/20/2026: Hedging Demand Spikes Amid AI-Driven Market Rotation

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Week of 7/13/2026: DSPX Index Jumps to 6-Year High Ahead of Earnings

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Week of 7/6/2026: Stock Dispersion Jumps as the Equity Rally Broadens

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Week of 6/29/2026: Volatility Traders Position for Long Convexity on Global Tech Consolidation

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Week of 6/22/2026: Cross-Asset Volatilities Decline as Traders Pivot Away from Hawkish Fed

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Week of 6/15/2026: Cross-Asset Volatilities Normalize as Geopolitical Risk Premia Dissipates

Macro Volatility Digest

Week of 6/8/2026: Downside Risks Rise as Tech Volatility Spikes

Macro Volatility Digest

Week of 6/1/2026: Single Stock Volatility Jumps to a Record vs. the VIX® Index

Macro Volatility Digest

Week of 5/18/2026: Index Hedging Jumps, But Stock Optimism Persists

Macro Volatility Digest

Week of 5/11/2026: Upside Chasing in Tech Stocks Surges to Covid Extremes

Macro Volatility Digest

Week of 5/4/2026: SPX® Realized Skew Inverts as Traders Focus on Right Tail

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“Spot Up, 'VIX' Up” as Investors Hedge Record Highs in US Equities

Macro Volatility Digest

SPX® Options Positioning Reverses as FOMO Sets In

Macro Volatility Digest

Volatility Falls on Ceasefire Hopes, Yet Caution Remains

Macro Volatility Digest

SPX® Call Demand Jumps on TACO Optimism

Macro Volatility Digest

Gold Loses Its Luster as Stagflation Risk Jumps on Iran War

Macro Volatility Digest

“Spot Down, Vol Down” as Investors Monetized Hedges

Macro Volatility Digest

Stagflation Fears Drive Widening Volatility Risk Premium

Macro Volatility Digest

Cross-Asset Vols Spike on Iran Risk as Oil Surges

Macro Volatility Digest

SPX Skew Steepens to 1Y High as Tariff Uncertainty Rises

Macro Volatility Digest

Tech vs. Small Caps Volatility Widens as Rotation Accelerates

Macro Volatility Digest

Gold, Silver and Equities Evidence Positive Vol/Spot Correlation

Macro Volatility Digest

Traders Defensively Positioned as Equities Retrace from Record Highs

Macro Volatility Digest

Defensive Positioning Beneath a Calm Vol Market

Macro Volatility Digest

All Quiet on the Volatility Front

Macro Volatility Digest

Expected Stock Dispersion Falls to Near 1-Year Low

Macro Volatility Digest

Tech Fears Subside as Dovish Fed Expectations Return

Macro Volatility Digest

Equities Buffeted by Year's 2nd Highest Bout of Intraday Volatility

Macro Volatility Digest

QQQ-SPX Volatility Spread Widens to 1Y High on Tech Angst

Macro Volatility Digest

Stock Correlations Bid as Mag-10 Stocks Underperform Broader Market

Macro Volatility Digest

Hedgers Capitulate as Bullish Sentiment Rises in Options

Macro Volatility Digest

Single Stock Volatility Bid Ahead of Tech Earnings

Macro Volatility Digest

Gold Volatility Spikes to 5-Year High on Haven Demand

Macro Volatility Digest

Earnings Angst Drives VIXEQ-VIX Index Spread to Record High

Macro Volatility Digest

SPX® Options Jump to Record 74% Market Share

Macro Volatility Digest

Single Stock Volatility Jumps Higher as Earnings Approach

Macro Volatility Digest

Record Options Activity Post FOMC Led by Call Buying

Macro Volatility Digest

Options Positioning Diverges Between Large- vs. Small-Caps

Macro Volatility Digest

SPX® 0DTE Options Jump to Record 62% Share in August

Macro Volatility Digest

Volatility Risk Indicators Revert to Lower Seasonal Norms

Macro Volatility Digest

Equity-Rates Correlation Jumps Sharply on Growth Concerns

Macro Volatility Digest

“Meme Stock”-Induced Euphoria? Not Quite

Macro Volatility Digest

Tariff and Powell Risk Drive Elevated Cross-Asset VRPs

Macro Volatility Digest

Tariff Threat Dismissed as Implied Volatilities Fall

Macro Volatility Digest

Equity Volatility Finds a Floor Ahead of Key Trade Catalysts

Macro Volatility Digest

Implied Vols Collapse As Stocks Hit New Record High

Macro Volatility Digest

Oil Options Suggest Price Spike Likely to Be Temporary

Macro Volatility Digest

Near Term Optimism vs. Longer Term Caution in Index Options

Macro Volatility Digest

SPX® 0DTE Options Jump to 61% Share on Retail Resurgence

Macro Volatility Digest

SPX® Skew Signals Longer-Term Caution Despite Rally

Macro Volatility Digest

Cross-Asset Volatilities Subside on De-Escalation of Trade Tensions

Macro Volatility Digest

Options Market Signals Skepticism of Market Rebound

Macro Volatility Digest

SPX® Convexity Falls as Tariff Optimism Grows

Macro Volatility Digest

Expected Stock Dispersion Near 5Y High as Earnings Under Way

Macro Volatility Digest

SPX® Intraday Volatility Highest Since 2008 on Tariff U-Turn

Macro Volatility Digest

Equity Vol Jumps the Most as Trump Tariffs Roil Markets

Macro Volatility Digest

US vs. Europe Diverge as Recession Odds Increase

Macro Volatility Digest

SPX® 0DTE Options Jumped to Record 56% Share in Feb

Macro Volatility Digest

SPX® Option Volumes Hit Record High as Volatility Picks Up

Macro Volatility Digest

Equity Vol Markets Shrug Off Tariff Threat

Macro Volatility Digest

DSPX Index Nears 3Y High as Focus Shifts From AI to Trade

Macro Volatility Digest

VIX® Call Demand Near Record High Ahead of FOMC

Macro Volatility Digest

TLT Options Signal No Fear as Yields Spike Higher

Macro Volatility Digest

Regime Shift in Equity Vol? Downside Risks Re-Emerge

Macro Volatility Digest

The S&P-500® Index Skew Steepens on Defensive Year-End Flows

Macro Volatility Digest

The VIX® Index Falls to 4-Month Low as Equities Set Record High

Macro Volatility Digest

Cross-Asset Volatilities Rise on Rate Policy Uncertainty

Macro Volatility Digest

The Post-Election Volatility Surface Realignment

Macro Volatility Digest

T-1: Election Risk Premium Surges into US Elections

Macro Volatility Digest

Election Risk Premium Continues to Widen into Elections Week

Macro Volatility Digest

US Elections Day Risk Rises as Trump Gains in the Polls

Macro Volatility Digest

Equity Convexity Bid As Traders Position for Powell Pivot

Macro Volatility Digest

Volatility Normalizes Yet Caution Remains

Macro Volatility Digest

SPX® Index Vol Metrics Normalize Quickly Post Monday Jump

Macro Volatility Digest

Earnings Buoy Risk Sentiment as Volatility Falls

Macro Volatility Digest

VIX® Option Volumes Jumps to Highest Since Feb18

Macro Volatility Digest

Gold Volatility Surges Higher on Upside Call Demand

Macro Volatility Digest

Rates Volatility Nears 1-Year Low Ahead of FOMC

Macro Volatility Digest

SPX® Realized Skew Most Inverted in Over 20 Years