There is huge open interest on the Aug 220 strike in SPY,
The SPX is at an all time high, yet vol in the SPX has stopped dropping. If anything it might have crept higher.
Stocks are up .85 in SPX and VIX up to 11.66; that’s right up to 11.66. So you ask yourself is it 2006 or 2016? Be that as it may stocks and the market are looking at the second half of 2016 and leaving the front half in the rearview window. Another stock that would like to leave 2016 in the review window is VRX. Today VRX was up 25% to 28.16 and it might just be getting started.