Very little "monetization"
We have covered the rise in SPX and the rise in SKEW extensively over past weeks (href="https://themarketear.com/posts/cJ8 rel="noopener noreferrer" target="_blank">here). When both rise you should watch closely as it shows the crowd is paying up for downside protection (on a relative volatility basis)...because they need it. This protection is usually monetized when markets move lower. This time we have seen very little of that "monetization"...