Bitcoin Drama Obscures Ongoing Collapse of Market Volatility

What with all the brouhaha over bitcoin, you could almost overlook the fact that S&P volatility has been burrowing a deep hole in the already seven-mile deep Marianas Trench. The implosion of VXX, which measures short-term S&P 500 volatility, mirrors the rise of the underlying index itself.  And just as the S&Ps are a strong bet to rise on any given day, VXX is a good bet to fall. There is only one trade that should interest us under the circumstances, especially since those who have profited handsomely from selling option premium all the way down are fated to give it back in just a catastrophic day or two. Check my VXX tout (below) if you’re interested.