Friday, May 8, 2015

The $VIX chart shows how stupid Americans are

The $VIX is more or less an index of the premium paid for downside puts:

What this chart is telling you is that Wall Street Whitey spent all this week getting more and more fearful of today's Jobs number, and felt compelled to buy more and more downside puts, bidding them up higher and higher - until the open this morning when suddenly he realized the world hadn't ended.

Goddammit, hedge fund people are idiots.

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