So here we are on the eve of Brexit and index volatility got pushed right to where it was last week like nothing ever happened. It seems the online betting sites are still predicting Brexin as the outcome but you never know until the tally is released. The Quebec and Scottish separatist votes came down to the wire and if there is ever a Texas vote it will probably do the same.
The VIX ended up BIG today settling above 21%. However I think the real story is not just how high VIX is, but how NOT high volatility has been. The spread is through the roof and I am not sure the lat time I saw something like this. It looks like the fiscal cliff at the end of 2013 on steroids