What Does VIX Know That Stocks Don't?

Tyler Durden's picture

Even before Fed's Williams poured cold water on un-taper hopes, it seems new highs in US stocks were being aggressively protected in the options markets. Today the divergence between an exuberant stock market and a defensive options market (VIX) is getting extreme... With the S&P and Russell having achieved their technical goal of 'unchanged' year-to-date, it appears the BTFATH'ers have left the building for a moment.

 

 

Since the US open, USDJPY and US stocks have seen their 'beta' explode and somewhat decouple...