Yo, Pit Crazies.

The whole Option Pit team is in Chicago this week and noticed something we have not seen in quite a while.

The vol of VIX – that’s the VVIX –  is getting crushed.

Here’s what that means …

VVIX is the Vol of Vol

VVIX is the implied volatility of the Cboe Volatility Index (Ticker:VIX) options.

It uses the same VIX methodology and right now it is near 100 for the first time this year …

One- year VVIX chart with one-day candles.

As you can see, VVIX is about to break 100.

Back to the heady times of transitory inflation, no Omicron or supply chain bottlenecks were just stories.

It would appear the big selloff is coming to a close.

Over the weekend, Vol Man wrote about lower VIX numbers coming and that appears to be happening.

VIX June puts are looking like very good buys right now.

To Your Trading Success,

AG