We note that VIX has just posted a solid 1-day gain of a little over 15% in conjunction with a reasonably benign S&P 500 fall of -0.71%

We note that VIX has just posted a solid 1-day gain of a little over 15% in conjunction with a reasonably benign S&P 500 fall of -0.71%. Historically (since 1990), a strong 1-day upward move in the VIX (> 15%) together with a small S&P 500 decline (between -1% & 0%), produced an average 10-day return of 1.72% for the S&P 500 Index (win rate 81%).