The volume is insane if anybody is watching. I have been rolling bi-weekly CSP's since October and have really dug into how options, particularly in CBOE's SPX have gone ape shit. Basically, the volatility is such that market makers are putting hedge walls up on both sides of the S&P. Because of the volatility, you have the typical degens casinoing, but massive, added volume from market makers because the volatility is forcing large 0 theta hedges being put into place. And the VIX picks up none of this volume.
This isn't a bear market it's a goddamned casino snake pit. Be careful!
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