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Daily Report : Traders betting on higher stock vs. index volatility

Jason Goepfert
2025-02-24
A popular trade on Wall Street has been betting on future volatility on individual stocks versus the S&P 500 index. This has helped to push the spread between the CBOE Dispersion Index and the VIX to a historic extreme. Similar levels tended to precede poor returns for the index, with defensive stocks being an exception.
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Headlines

Traders betting on higher stock vs. index volatility: A popular trade on Wall Street has been betting on future volatility on individual stocks versus the S&P 500 index. This has helped to push the spread between the CBOE Dispersion Index and the VIX to a historic extreme. Similar levels tended to precede poor returns for the index, with defensive stocks being an exception.

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Research

Traders betting on higher stock vs. index volatility

By Jason Goepfert

BOTTOM LINE
A popular trade on Wall Street has been betting on future volatility on individual stocks versus the S&P 500 index. This has helped to push the spread between the CBOE Dispersion Index and the VIX to a historic extreme. Similar levels tended to precede poor returns for the index, with defensive stocks being an exception.

FORECAST / TIMEFRAME
None

Sentiment Risk On / Risk Off Overview

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Indicators at Extremes

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% Showing Pessimism: 16%
Bullish for Stocks
Inverse ETF Volume
NYSE Up Issues Ratio
NYSE Up Volume Ratio
Short-term Optimism Index (Optix)
S&P 500 Price Oscillator
Insider Buy/Sell Seasonally Adj
S&P 500 Down Pressure
Mutual Fund Flow (no ETFs)
CSFB Fear Barometer
% Showing Optimism: 33%
Bearish for Stocks
SPY Liquidity Premium
Equity Hedging Index
Rydex Bearish Flow
Rydex Ratio
Rydex Money Market %
ISE Equity Call/Put Ratio
% Showing Excess Optimism
ISE Call/Put Ratio
LOBO Put/Call Ratio
SKEW Index
OEX Put/Call Ratio
ROBO Put/Call Ratio
Options Speculation Index
NAAIM Exposure Index
Retail Money Market Ratio
AAII Allocation - Stocks
NYSE Available Cash
Equity / Money Market Asset Ratio
Mutual Fund Cash Level

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Optimism Index Thumbnails

Sector ETF's - 10-Day Moving Average
Country ETF's - 10-Day Moving Average
Bond ETF's - 10-Day Moving Average
Currency ETF's - 5-Day Moving Average
Commodity ETF's - 5-Day Moving Average
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