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Summer VIXing

Posted on June 26, 2008

OK, in the interest of owning up to bad calls, I expected a lower VIX this week after the Fed meeting.But alas, the market sucks.What I should make clearer in those instances is that I mean the VIX will be lower than what one might ordinarily expect in a given backdrop.So yes, the VIX has actually lifted modestly since Monday. But with this given market backdrop (incredible ugliness), one would reasonably expect a much higher VIX than a 23 full. Yet it meanders (and I realize I am bemoaning VIX underperformance on a day it lifted 13%, but I'm looking at the whole number here). Part of this is...

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calls , volatility