We have rarely seen this in the past 15 years…
Summer Of Volatility
July 30 (King World News) – Here is a portion of today’s note from Jason Goepfert at SentimenTrader: To start the new week, one of the few winners was volatility. The VIX jumped nearly 10%. That’s not a big jump, but another couple of days like the last couple will push it near multi- month highs…
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Jason Goepfert continues: That’s not unusual for this time of year. According to an average of the typical seasonal pattern in the VIX over the past 5, 10, 15, 20, and 25 years, it tends to bottom right about now in a typical year, and head higher into October.
The seasonal pattern in the VIX shows a bottom right now
One supporting factor for that seasonal pattern playing out is the positioning of “smart money” hedgers in VIX futures. As of the latest report from last week, hedgers are holding net long contracts accounting for more than 22% of the total open interest. That’s not quite the most ever – they’ve held as much as 30% in the past – but it’s among the most in nearly 15 years.
This is why Jason Goepfert is the best in the world at what he does — providing actionable market data. To subscribe or try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader by CLICKING HERE.
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