The Wheels Are Starting To Come Off

by Chris
Uh oh.  There goes junk debt.
This is one of my ‘key signs’ that it’s time to really buckle up…almost there…very close.

CBOE Looks Ominous
I’m not sure how the CBOE is constructed, whether it’s just an exchange and the broker functions (managing the margin requirements) lie elsewhere, but this is one of those signals that make my antennae quiver:

The story is that they’re  just suffering from a loss of the volatility traders, but I think it either speaks to a massive loss of volume in general, or there’s something worse under there like bankrupt trades that somehow remain on the exchange?
As I said, I don’t know how the CBOE is constructed and their website is no help.