Hey, it's Don.
Everyone saw the S&Ps grind into the upper edge of the weekly expected move. That part was visible.
What wasn't visible on a price chart was the volatility under the volatility. VVIX — the volatility of VIX — pushed through 100 this week.
110 is the marquee level for me, but crossing 100 is the first tap on the shoulder.
When that happens while headline VIX looks sleepy, it usually means institutions are quietly loading back-month hedges in VIX options. You won't see it on SPX; you feel it in the options tape.
In the video, I walk through:
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How to trade the edge: When I'll fade the top of the expected move vs. when I'll ride it.
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Why VVIX > 100 matters: How I use 100 and 110 as regime tells for risk-on vs. risk-off.
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Rotation you can trade: Tech stayed soft while the Dow caught a bid, and IWM whipped around. That divergence sets the next opportunity.
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What the VIX flow hinted: Where hedge buyers showed up and what that implies for ranges into September.
If you only watch one segment, catch the part where I line up SPX at the edge, VVIX > 100, and the IWM whipsaw.
That's your roadmap for when "nothing happening" turns into "something happening."
👉 Watch the replay now.
To your success,
Don Kaufman
Chief Market Strategist, TheoTRADE
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