Traders, this is just a quick reminder. IV is not down right now in the sense that most pros see it (hint: If I am not making money from Vega, vol is not down). The weekend decay is finally coming out this afternoon. By my estimate, the VIX will end up down about .75% because of the weekend. Add this back into whatever the VIX cash says it closed at. That is where the VIX really closed. On Monday go ahead and subtract that value from whatever the VIX says it is trading on Monday.
Traders, just looking at the markets, I do not like selling into the weekend, and would actually consider closing into Monday, I could see next week being very crazy with all the news coming out.
Good luck, have a great weekend, don’t forget to check out the webinar tomorrow (see blog below), follow me on twitter @optionpit, and sign up for the free AM Pit Report!
