Happy New Year to all the Option Pit faithful! We started off with more of what we saw last year; the inability of VIX to hold a spike and then yet another rally. Not so long ago naysayers thought we would never see the highs again in the NASDAQ and yet it pushed through 7000 today for an all-time high. Whatever VIX thought was going to happen, it was right, just not in the direction implied by the sharp rally.
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