Vol Term Structure — bpleone / trade

VIX9D · 9 days

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VIX · 30 days

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VIX3M · 3 months

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VIX6M · 6 months

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VXN · Nasdaq vol

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VVIX · vol of vol

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Term Structure — today vs 30 days ago

🎯 Signals

VIX9D / VIX Ratio — 30 days (front-end stress)

Ratio > 1.0 = inverted (front-end stress). < 0.9 = healthy contango.

VVIX — vol of vol

VVIX > 110 = vol market is itself volatile — sharp moves likely.

🧠 How to read the curve

Contango (VIX < VIX3M < VIX6M)

Normal regime. Vol-sellers profit from roll-down. Trend-followers thrive. Buy dips. VXX/UVXY decay aggressively.

Flat (within ±1 vol pt)

Transitional. Market repricing risk. Reduce conviction. Watch for sharp curve reshape — that's when vol regime breaks.

Backwardation (front > back)

Stress regime. Mean-reversion in equities works. Vol-sellers blow up. Hedges expensive but justified. Bottoms historically form here.