VIX Futures Weekly Wrap

VIX and VXX got a little perky during the week, perhaps signalling a move higher soon, but in the end the spot VIX (+0.08%) and VIX futures edged up only slightly from a week ago along all points on the curve. Here are the term structures:

Weekly scoreboard for VIX Futures ETPs and S&P 500:
- VXX: +0.61% 
- XIV:  -1.58%
- ZIV:  -1.10%
- SPX: +0.68% 

As of the close today all indicators for VIX trades are pretty well balanced, suggesting there aren't any multi-day trades in either direction that are likely to produce a profit with any high degree of certainty. There is still an ever-so-slight bias towards a long XIV position as mentioned yesterday but after today's large move I think it's better to wait for the next set up.

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