posted on Feb, 13 2013 @ 01:11 PM
According to Art Cashin, somebody (not an institution) has placed a $11.25 million bet on a 2 month contract on the VIX.
For those unaware, the VIX is the volatility index, so this bet is saying that some time ove the next 60 days there is going to be a huge increase in
volatility in the stock market, technically either up or down. But according Cashin:
some options trader has made an enormous $11.25 million bet that the VIX will explode higher very soon.
And a rally in the VIX is usually accompanied by a drop in the stock markets."