VIX Falls 6% on Iran News, But the Rotation Tells More
The VIX doesn't drop 6.44% in a single session without telling you something. Monday's close at 15.99 marked a sharp unwind of the war-premium hedges traders had been carrying since oil spiked above $100 earlier this year. The catalyst: CNBC reported that President Trump called off a planned strike on Iran, sending oil 4% lower and triggering a broad repricing of geopolitical risk. SPY, the S&P 500 ETF, added 0.72% to $747.03. But the more interesting story is what's rotating beneath that headline. Key Takeaways The VIX closed at 15.99 on August 3, down 6.44%, as Iran war-resolution headlines triggered a broad unwind of volatility hedges. SPY gained 0.72% to $747.03, but small-caps (IWM) fel…
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