Zeev's Turnips Patch-No Politics (ZEEV)

[Ste]

>>VXN is not even a sentiment indicator; it is caculated on real volatility, not implied.<<

Not according to CBOE, who happen to be the body that calculate and serve the VXN datafeed.

http://www.cboe.com/MktData/vix.asp#vxn

"The CBOE Nasdaq Volatility Index (ticker symbol: VXN) is the newest benchmark of "tech stock" volatility based on the implied volatility of Nasdaq-100 Index (NDX) options. Calculated using the same methodology as the CBOE Market Volatility Index VIX, VXN is constructed so that, at any given time, it represents the implied volatility of a hypothetical at-the-money NDX option with thirty calendar days to expiration"