VIX is dropping severely while the market is slowly climbing. Al index-options subsequently drop, BUT the slope of decay is steeper for Nov & Dec than for the front month! Thus the Option Market is subjected to a phenomenon known as progressive “backwardation” or “vacudation” in the lingo of Vini-the-Trader... That means that those guys like me who have time spreads are loosing virtual $…for the time being… Some people think that when this is happening , the VIX drop cannot last…
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