Replies to post #233065 on SPDR S&P 500 (SPY)

[imiloa]

maybe the reason VIX hasn't sunk lower
is large SPY holders leveraging more SPY put options as hedges against long positions at these altitudes?

if so, that suggests market wariness.
but does not imply markets won't rally another 20-30% from here.
viz, TINA, exuberance, buybacks, etc...