Something strange is happening.
Why in the midst of such a powerful rally, we have no corresponding draw down in volatility?
I wrote about this earlier.
tradersutra.blogspot.com/2009/07/markets-rally-yet-volatilty-stalls.html
I just cant seem to wrap my arms around this.
Also someone out there is trying to protect profits or get short the market outright. There is 122,000 or so December 95 SPY Put Contracts that have traded today, with previous Open Interest of only 28,000 or so.
More to come soon.
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