London
BENEATH calm stocks, the volatility market is jumping.
Take futures on the CBOE Volatility Index, whose volume surged 50 per cent this month and is on pace for a record year, according to data compiled by Bloomberg. Belying the lull evidenced in the VIX itself, which has traded almost 30 per cent below its historical average in September, six-month contracts on the index are priced about 40 per cent higher and last month the gap hit its widest since 2012.
All that has been money in the bank for...
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