If you haven't figured it out yet, when the SPX takes a dive the high ups at CBOE think $$$$. Well, take a look at the price of options in CBOE they are cheap
After being up nicely then giving it away OIV and OVX are now at 3 month highs, although no where NEAR where they got to in January
Last week we commented, REPEATEDLY, that $AAPL vol looked over sold, it was a huge buy. We are seing a similar price behaviour in FB where options are WAY too cheap.