Security

VIX: Market Volatility Research & Analysis

The current equity environment is characterized by a significant divergence between a suppressed VIX, which is testing a natural floor at post-Iran war lows, and surging volatility in bond markets. Despite the S&P 500 testing critical resistance levels around 7,500, equity volatility remains low due to depressed stock correlations and an intense focus on AI-driven mega-cap momentum. However, underlying market fragility is rising as breadth weakens—with less than half of S&P constituents trading above their 50-day moving average—and credit spreads in high-yield sectors begin to widen. Positioning indicators suggest an increasingly asymmetric risk profile, as BofA cash levels have dropped to a 3.9% sell-signal threshold while semiconductor trades reach extreme crowding. With VIX seasonality turning supportive and realized correlations expected to normalize as macro narratives regarding inflation and rates return to the forefront, the environment for volatility is shifting. Consequently, research suggests that cheap convex hedges, specifically VIX call spreads, are becoming increasingly attractive to protect against a potential correction in global equities.

42 reports available

Macro Volatility Digest thumbnail

Macro Volatility Digest

Cboe·Jun 1, 2026

Cboe reports a record divergence between single stock and index volatility, with the VIXEQ-VIX spread hitting 29 points as idiosyncratic risks dominate. Concurrently, equity-bond correlations have collapsed to record lows, challenging traditional portfolio diversification.

The Market Is Now Panicking Not To Panic thumbnail

The Market Is Now Panicking Not To Panic

The Market Ear·May 29, 2026

The market is exhibiting extreme complacency as investors dump downside protection and skew collapses to historic lows despite a speculative AI-led rally. This 'melt-up' psychology has made tail-risk hedging and VIX call spreads unusually cheap relative to historical norms.

Macro Volatility Digest thumbnail

Macro Volatility Digest

Cboe·May 18, 2026

Volatility increased globally as the US 10-year yield hit 4.6%, driving defensive hedging in indices like the Russell 2000 while single-stock call buying remains at 'meme stock' era extremes.

US Equities Weekly Rundown thumbnail

US Equities Weekly Rundown

Goldman Sachs·Jun 6, 2026

US equities saw weekly losses as strong employment data pushed interest rate expectations higher. Despite the market pullback, institutional hedge fund activity showed continued buying, though volatility measures saw a significant spike.

Technical Views Equity Indices thumbnail

Technical Views Equity Indices

Pictet·Jun 8, 2026

This report provides technical analysis of major global equity indices, identifying recent US market declines as a potential healthy pullback. It details key support and resistance levels for indices in North America, Europe, and Asia.

Macro Volatility Digest thumbnail

Macro Volatility Digest

Cboe·May 11, 2026

Retail call buying in mega-cap technology stocks has surged to 2021-era extremes, driving a wedge between muted index volatility and elevated single-stock volatility. Meanwhile, cross-asset correlations are shifting, with gold trading as a risk asset and oil volatility remaining historically rich.

The Fragile Melt-Up

The Market Ear·May 20, 2026

The Rates Disconnect

The Market Ear·May 22, 2026

Weekend Prep

Goldman Sachs·Jun 1, 2026

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