VIX got a day in the spotlight on Monday when the fear index rose 14% based on events going on in a country that 89% of Americans cannot find on a map (this like 99.7% of other statistics was made up). The S&P 500 sold off early and then trudged higher on Monday. The path higher for the S&P 500 continued into Friday where another record close was recorded. Since VIX was recovering from a visit to the 16’s on Monday the week over week result was basically unchanged despite the S&P 500 gaining 1.00%. Do note on the chart below that March is at a pretty nice premium relative to the spot index. VIX March futures and options expire on the open on Tuesday, March 18th – this is a function of there being a market holiday on April 19th this year. Keep in mind we have six trading days left for March VIX contracts and only one trading day after next weekend.