Cboe's VIXEQ Says 38.51. The VIX Says 15.28. QVR Lost 30% Trading the Gap.Index vol is a product of two terms. Correlation did 82.6% of the March move, and in August the other term swamped it.Navnoor BawaAug 13, 2026∙ PaidShareContinue reading this post for free, courtesy of Navnoor Bawa.Claim my free postOr purchase a paid subscription.