The market looks calm right now, and that is the problem.
The VIX, the number everyone watches for fear, is sitting in the mid-teens. By that one gauge, everything is fine and the coast is clear. Most traders glance at it, relax, and move on. They are looking at the wrong number.
Look one layer down at the Nasdaq. Completely different story. Volatility on big tech has climbed to levels we have not seen in roughly two decades, the kind of reading that showed up before the last major break in this market.
The surface is quiet. Underneath it, tech fear is screaming, and the people pricing those options know it.
That split will not stand. When the calm reading and the panic reading drift this far apart, one of them is wrong, and the gap closes hard.
My read is the call buying underneath this is setting up something big.
Tomorrow at 9:15 am ET, I am hosting a free live training to walk you through what the quiet market is hiding, and the one relationship I am watching to stay ahead of it.
👉 Save your free seat for tomorrow
To your success,
Don Kaufman
