When The Volatility Stars Align
Last week I posted a veritable PhD dissertation on the VXX (j/k) which, despite my efforts to spiff it up with my notorious teutonic humor, remained relatively unnoticed. With retail gobbling up put positions with both hands as usual, it appears the most important volatility event of the quarter once again has been largely ignored. Fortunately a handful of intrepid IV aficionados (a.k.a. option traders) managed to take full advantage of the situation.