Will Earnings Be Good Enough
It was one of those days where the market chopped around, the S&P 500 finished higher, and the NASDAQ finished a bit lower. The VIX was higher today, moving up to 13.75, now that VIX-peration has passed. Additionally, Friday will mark the monthly opex for stocks.
Volatility tends to pick up post OPEX; on top of that, next Wed, there will be an FOMC meeting, so IV should climb for the next couple of days, one would think. It doesn't have to, of course, volatility selling has been all the rage, but certainly, the window for higher implied volatility exists until that 2:35 PM Press Conference.
It is interesting because it seems like every day this week, the S&P 500 rises and then has a weak finish, which means the bulls have to gap the market higher the next day to keep this rally alive.