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$VIX, the CBOE Volatility Index, is expected to reach a 10 handle by the end of the quarter due to Vanna flows and upcoming holidays. VIX futures are down, potentially leading to a crush in implied volatility. The index is close to breaking under 12, hinting at a positive gamma environment and a possible dip-buying trend. It is nearing a new closing low, last seen in November 2019, with the potential to drop below 11 for the first time since August 2018.
$VIX is just a few pennies away from making a new closing low last seen on November 2019. And if it closes below 11, would be August 2018 since that happened. Fwiw.
VIX futures down another 1% after PPI, wa a great clue yesterday into the close as IV's stay soft, just alot of 0 DTE trading pushed the tape down after Powell. Clear strong positive gamma environment and just 5 days til triple witching opex now.. https://t.co/7ako8XG5rm
$VIX nearly prints a fresh cycle low. Back under 12. Have a great summer, everyone. https://t.co/DX7rp3hlP5