VIX spot is now up for 2 weeks in a row, as the market had its biggest selloff since June this week. Though we’re in the middle of August, volatility is picking up after we broke the important 1675 support level in the SPX.
Here is last week’s snapshot:
Compare that to today’s snapshot:
August futures are up more than a point in the last week, and the rest of the VIX futures curve is up between 0.5 and 1 point. I wrote about my view on the VIX spot around 15 in this morning’s Macro Wrap. Though realized volatility has been low, I think the VIX is probably too low based on the larger moves we’ve seen over the course of weeks and months this year.