$VIX hit backwardation - rare as you know and doesn't usually last. VVIX is 104.17 and rising. $VIX:$VXV hit 101 but it's dropping a bit.
I think of this like going to an ER knowing that you'll be charged a 1000% sin tax vs. waiting to see a doc. Fear is taking over, and investors are paying a premium for protection.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.