VIX Derivatives At "Scariest" Level Since August 2015 Crash

While VIX remains subdued at bull-market-narrative-confirming levels, there are extreme concerns being exhibited in VIX options. There are currrently almost 7 times more 'call' options (bets on a higher VIX) than 'put' options oustanding on the 'Fear' index - the highest since August 2015, just days before China devalued and the US equity market crashed.

As the chart below shows, the spikes in VIX Call/Put ratio has tended to successfully lead a spike in VIX a number of times...


And with an election, an FOMC meeting, and a Chinese currency/money market in turmoil again...

Who can blame the professionals from hedging their risk in as sneaky way as possible.


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