"Something Snapped" - Stocks Decouple As VIX Call Volume Explodes

As one veteran trader noted "something snapped" two days ago as VIX and US equities decoupled notably for the first time since the election. This morning VIX is surging once again (near 12) at the same time as US stocks are soaring.

 

Most notably, VIX call volume has exploded to its highest since September as chatter of long VIX call liquidations spread across trading desks.

 

Which seems to be confirmed by the crash in VIX Call protection costs...