It was a mixed day for volatility as the VIX opened a touch higher, but then briefly printing 13.29, before climbing across the afternoon, settling +7.8% @ 14.69. Near term outlook remains borderline, as equity price action remains pretty choppy.
Suffice to add... the VIX still remains pretty subdued.
Even if the market unravels to the sp'2000/1990s before next opex (May 20th), the VIX will still struggle to clear the key 20 threshold
Sustained price action above the 20 threshold looks out of range until late May/early June.
more later... on the indexes