I am looking at the VIX front month option IV and it is over 100% right now. What does this mean, the volatility of the volatility is super high. It is also telling me that we could be in for another IV move tomorrow. The questions is what direction? If the VIX is moving any direction tommorrow I think it will be down. Ill make a few arguments for that later.
Just to let you know, I have been a net seller of vega today.
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