The combination of a rebound from a three and a half day weekend, the S&P 500 selling off, and some déjà vu with financial problems out of a European country pushed all four volatility indexes higher. The shorter dated (VXST and VIX) did experience some long weekend rebound, but the move higher on the longer end of the curve is all about market concerns and there seems to be a new concern popping up each week. The funny thing is the overall market continues to shake off any negative news.
The ETP space saw a nice bounce with VXX rising a little more than 4%. The strategy behind VXX is now heavily weighted toward the VIX August futures since there are only two trading days remaining until July futures go off the board.