With the market up big and coming off of a bit of a selloff, it is not much of surprise that the VIX is breaking 16 again.

If you like to follow Adam Warner's tweets (something every real option trader should) you know that very Monday he likes to remind all option traders that just because the VIX is up, does not mean that volatility is up.

Prior to the reverse split I predicted that the stock was going to have a rough go of it over the next few weeks.

Since the end of 2008, despite much talk of a turbulent market the VIX has been heading on an almost perfect down slope

For the second out of three days, we have seen the market take a nice dive, and the VIX act as if it could not care less. What gives?

If volatility is mean reverting, then where should the VIX actually be trading? What is normal, low and high implied volatility?

When I asked on Wednesday if the VIX had topped out, the market responded with a resounding "NO!"

Option traders, the market was down more than a standard deviation today based on yesterday's closing VIX (more if we are looking at ATM IV). Yet, the VIX rallied a measly .4% what gives?

"In every game of poker, there is a sucker. If you do not know who the sucker is…well…then it's probably you."

When SPX skew gets this out of whack it is not going to be there for long.

As I have often said, anytime I see SPX front month fall more than 2% below SPX second month I begin to look for opportunities to put on short time spreads.