After a wild few weeks...
VIX dropped almost 42% this week - its biggest decline in history - as nerves settled over Brits' decision to "leave" the EU.
A bigger "relief" than the end of the Gulf War, than the post-Bear Stearns fund liquidations bounce as Central Banks saved the world, and than the last minute decision to not shut down the US government on Dec 31st 2012, "Bre-lief" is indeed the great dumping of protection in history...