Regime

CautiousVIX 19.5

Reduce size 25%. No new aggressive plays.

VIX Zones

Normal

<18

Cautious

18-25

Defensive

25-35

Crisis

>35

Extended Signals

VVIX (vol-of-vol)105.4

Index Gamma

SPX◆ Pos γ
Flip $6,875.27 · Spot $6,824.660.7% below
NDX◆ Pos γ
Flip $24,794.22 · Spot $25,082.0861.1% above

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