Volatility fails to hold earlier gains

For the second day running, whilst the main indexes battled to new highs, the VIX started to break upward..with gains of 5% in the mid 13s. Yet, as is also often the case, the VIX melted into the close, closing +0.3% @ 12.81.  The market is entirely complacent of all future events.


VIX'daily3

Summary

There is little to be said about this.

There are a few out there buying VIX 'insurance' option Call blocks for June..and even much further out, but its generally very low volume.

The majority do not expect VIX breaking above 14/15 any time soon.
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more later..on those indexes