Vol futures are bid over spot VIX as traders begin to price in the impending clusterfuck.
The last times this happened, VIX rose.
The outlier was December when vol fell during the market decline, because protection was record bid.
Not now. pic.twitter.com/8DcqITDcZ0
— Mac10 (@SuburbanDrone) April 24, 2023
Sentiment has turned even more bearish in April pic.twitter.com/PRSmTOYgEx
— Cheddar Flow (@CheddarFlow) April 24, 2023
Only 4% of S&P 500 members have reached their highest price in the past 52 weeks
