VIX ETF Short Squeezes For 6th Day In A Row, Long-Dated Vol Above Monday's Peak

While all eyes are on the front-end of the VIX term structure, today's volatility term structure in the out-dates is now higher than they were at the close on Monday at "peak crisis." VXX - the VIX ETF - is still surging, as the massive short position continues to get squeezed amid the ongoing backwardation in VIX...

6th day of short squeeze in a row... It sems picking up pennies in front of the steam roller does have consequences...

And VIX is now higher than in it was during Monday's crisis in the out-months...

This is the longest period of sustained bakcwardation since 2011...

and The skew (cost of downside tail risk vs 'normal' risk) is extreme...

Chart: BBG

Finally, a 1 year time series of the implied vol surface: 

h/t @noalpha_allbeta

Comments

[I AM SULLY]

VIX is only meaningful in the rear-view mirror ...

https://www.youtube.com/watch?v=Pjxw3rEMioE

[KnuckleDragger-X]

Not quite, it's another game in the casino and it can be rigged like all the other games......

[Bloppy]

Have been unable to get streaming VXX options quotes all day.

TV news killer saw ‘swinging by’, ‘in the field’, even Slurpees as ‘racist’

http://tinyurl.com/nhsorxq

[vote_libertaria...]

this one goes to 11....thousand!

[AbbeBrel]

Hey dudes and dudettes - if you use 2011 as your analogy - it was Aug - through Dec - before the VIX even APPROACHED 20 again. That is 5 months boys and girls!

[john milton]

slam it, dammit

[Glass Seagull]

"The VIX inversion is too damn high!!"

-Janet "The Planet" Yellen

[JJdog]

Vix going above 80 before midde of Sept! Every A hole and their uncle was posting "short the vix, short the vix" for months. well, I am glad they are getting slam! 

[The worst trader]

And the VXX slam begins,lmmfao. 

[ElixirMixer]

Anyone who puts money into the VXX is not very smart.