VIX Set To Rise After Today's Largest Non-Quarterly Index OpEx On Record

Yesterday saw a notable dynamic play out as VIX trended lower in the face of equity index weakness, which suggested that traders were 'less bearish' than the previous day...

In fact, as SpotGamma detailed with their HIRO tool - measuring the real-time impact of options hedging - as the day progressed, traders bought the dip primarily through call options (i.e., bought call options)...