自1986年編制指數以來,VIX (芝加哥期權交易所波動指數)共有37次下降到10以下的水平, 其中有34次就在今年發生,其中11次則發生在10月,錄得最低紀錄的數字在2017年10月5日,跌至驚人的9.19!!!

圖表顯示,目前的VIX是長期指數平均值(18.65)的-47%。

VIX衡量投資者對市場波動的預期。 顯然,數據顯示投資者非常樂觀。 看跌指數的投資者最近獲得了驕人的利潤。 市場變得如此一面倒,股市下跌2%或3%可能已經會造成嚴重破壞,迅間投資者便盡失預算。

現在是時候買升嗎?

There are altogether 37 times when the VIX closed below 10 ever since the index was compiled in 1986, and 34 of those times happened this year, of which 11 occurred in October, with the lowest recorded reading plunged to 9.19 on 5 October 2017!!!  Amazing!!! 

The chart here shows that current VIX is -47% below the long term average of 18.65. 

The VIX measures investor expectations of market volatility. Clearly, the data show that investors are very complacent. Those who short the index have made handsome profits lately. The trade has become so one-sided that a 2% or 3% downward move in the market could cause havoc and quickly things would spiral out of control. 

Is it time now to play the other side of the volatility coin?

 

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