Volatility falls...huh?

With the indexes opening significantly lower, the VIX could have been expected to open up 7-10%. Yet it opened flat..and soon turned marginally red. I'm really not sure what to make of it. It is something I've seen before, but its pretty rare to see a red VIX whilst the market has swung from sp+10 to -13 in pre-market.


VIX'60min

VIX'daily

VIX, weekly

Summary

A bizarre day in VIX land, and the close was just as bizarre, -7%

Bears will need to see the VIX +21 to confirm the declining indexes, amid increasing concern about the underlying economy.

*most VIX calls were actually up today, which probably tells you something is certainly not right with the quoted VIX today.

More later