As VIX Nears Record Low, Investors Have Never Been More Worried About What Happens Next
As last week ended, VIX was crushed back near record lows to ensure the S&P 500 closed above 2500 and to prove all is well in the world - despite quakes, storms, floods, nukes, and worst of all... Fed balance sheet unwind plans.
And VIX speculators have never been more short (implicitly levered long stocks)...
So why, given all this exuberance and complacency, is uncertainty around VIX's future trajectory at relative record highs?