Good morning!☕️
This is the morning the Sep
$VIX futures contract goes away.
Spot is 16.84. Sep last 16.75. Those two already shook hands. At 9:30 the exchange takes the opening prints in the
$SPX options, runs the same recipe, and that SOQ is the last number this contract will ever have. After that, Oct at 18.35 is the front month.
Look at the hole between today and October 21. That is five weeks with no monthly on the board. The weeklies live in there. Sep 23, Sep 30, Oct 7, Oct 14. Same product, shorter fuse. They do not replace the monthly. They just give you dates to sit in while you wait for Oct.
The slope is still there. It just has more rungs on it now.
Follow if you want how those weeklies settle, because it is not the same Wednesday morning as the monthly.