Where is the Implied Volatility Risk

Where is the Implied Volatility Risk

Where does the market see the higher implied volatility risk? It's surprising to see that despite earnings announcements next week and a FOMC meeting that the SPX implied volatility remains low. You look at other markets like the XLF, the ETF of the financials and QQQ, the Nasdaq 100 ETF implied volatility levels remain elevated. Let's take a look what to expect next week.