VIX - Scatter Pattern 11 Days of Ranging Chop

The VIX Complex has been range bound for the prior 11 Sessions.

This is typical Summertime behavior, it is not at all unusual.

There is a Micro Gap @ 19.70 that was front run last night in the
Globex Session - the FR was 1 Tick or .05 @ 19.75.

We closed all of our VX Curve Positions yesterday during the Second
Attempt at the Highs.

We believe the VIX will exit this range and move to 22.50 initially.
The reaction there will be telling and instructive.

For now, we will patiently wait for the Micro Gap to fill and observe
the reaction there as there appears to be an accumulation of SELL
positions on the ES / SPY / SPX.

The VX Curve has widened to its largest spread since rollover.

Cash VIX remains @ 150 in the range of 130-165.