Below is a chart and brief excerpt from today's Early Look written by Hedgeye CEO Keith McCullough
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See what happens when front month VIX ramps > 26? Implied vol on SPY went from an ultra-complacent -25% DISCOUNT (vs. 30-day realized) to a +14% PREMIUM, in a day! Keeping my eyes on AAPL Volatility (VXAPL) which broke out on my TREND signal yesterday… short-term concentration (and correlation) risk in the major indices is epic. God willing, ye Olde Wall won’t start contextualizing the ROC (rate of change) of The Cycle within the lens of Cross Class Volatility until I retire. The establishment empire remains dogmatic and linear as the Hedgeye Nation Revolution rolls on! |
