It's what VXX represents that matters to me. When put interest and premiums there in start jumping up on the S&P at the same time SPY price moves up, look out.
Saw the same thing here before, and it didn't end well.
Saw the same thing on TWTR apx 2 years ago, where in put premiums started soaring while price was going up, the three days that followed were carnage.
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