VIX 'Curve' Inverts As Traders Carry Biggest Short Vol Position Since Feb Crisis

VIX is spiking this morning, back above 16 for the first time since May...

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and inverting the term structure...

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For the first time since April...

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This surge is coming right after Large Specs have rebuilt the largest net short vol position since the Feb XIV collapse.

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Is the next short-vol-squeeze coming?