Event Dime
SPX® Options Positioning Reverses as FOMO Sets In
Education & Learning
- When:
- April 20, 2026 · 4:00 AM
- Where:
- Cboe Global Markets
- Source:
- Cboe Global Markets
Implied volatilities normalized across asset classes last week as momentum built toward a peace deal between US and Iran. Equity, rates, credit, and FX implied volatilities all fell below their long-term averages. WTI 1M implied vol collapsed by nearly 30 pts wk/wk to 47% – though notably we still see strong demand for call options with oil skew remaining inverted. This suggests that despite widespread optimism of an imminent deal, oil traders still see elevated risk of a prolonged conflict – a