VIX of VIX at 74th %ile, MOVE at 77th, Skew at 95th — the vol surface is twitchy but not panicked yet

S&P dispersion at the 100th %ile — stock correlation is breaking down, this is a market of singles not baskets Gold vol at the 3rd %ile is the most interesting signal — deeply complacent into a macro stress setup, mean reversion could be violent Soybeans and corn both at the 100th %ile — agflation is back and it’s not subtle Kalshi has WTI above $117 by November at 8.5% — the oil vol spike is pricing something the probability markets haven’t caught up to yet

S&P dispersion at the 100th %ile — stock correlation is breaking down, this is a market of singles not baskets