The Market: No Volmageddon. "Just" a Correction to SPX 3721

Retiring my expectation of a volatility "event" while maintaining focus on the on-going equity market correction that has yet to fully play out.

Discussion

The VOL complex continues to languish at relatively low levels, nowhere near a 2018-like “Volmageddon” event that saw the VIX rip above 30 in a matter of days. Given the morbid outlook for …