The last two weeks have been interesting for VIX and VIX futures watchers, for several reasons. In relation to the VIX, the realized volatility has been above implied for about 2 weeks and appears that it might stay there for a while.

Livevol (R) www.livevol.com
The market seems to be okay with HV higher than IV as long as the move is higher. This makes me uncomfortable, with overall VIX levels and has me convinced we do NOT see an 11 handle anytime soon.
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