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Actionable news in XIV: VELOCITYSHARES DAILY INVERSE VIX SHORT TERM ETN,

Uh-Oh: VIX Explodes To 15-Handle After Call Volume Hit 3rd Highest In A Year

The VIX (you know, that’s that thing that under the current system isn’t allowed to trade in double-digits under any circumstances), has just spiked to a 15-handle – and beyond:

Don’t forget this warning from Marko Kolanovic (i.e. “Gandalf” tried to tell you):

Given the low starting point of the VIX, these strategies are at risk of catastrophic losses. For some strategies, this would happen if the VIX increases from ~10 to only ~20 (not far from the historical average level for VIX). While historically such an increase never happened, we think that this time may be different and sudden increases...


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