The AI Trade's Fragility Problem

The Volatility Event

Volatility came back with a vengeance on Friday. The VIX surged, tech volatility exploded, skew snapped higher, and investors suddenly rediscovered their love for puts. Beneath the surface, options-driven feedback loops and leveraged ETF rebalancing helped turn an ordinary selloff into a full-blown volatility event.

Here are the charts that matter.