Intermediate Trade: VIX

The VIX has been acting super-weird the last two days. With the market down yesterday, the VIX and VIX futures were down. Today, with the market flat to mostly green (sans the Nasdaq-100), the VIX is up significantly and there is a stiff bid in the VIX futures. This is really funky and sets off alarm bells in my head.

Best I can tell is there is some fear buildup around North Korea, the 10-year note and the Fed, Gary Cohn leaving and a general market malaise that lends to longs owning premium as protection. Given the last few weeks, with the SPX within 1% of its all-time high and VIX still only at 12, hedging does make some sense. Either the market is going to sell off or a really large dumping is about to take place in the VIX complex....49 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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