Volatility Review: Welcome to the Post-Fed era.

• VIX Cash: Around 18.94. A brief flirtation with 27 last week. No one predicted a move into the mid-20s on our previous show.
• VIX Options: Heavy volume early this week. 1.2M Monday, 860K Tuesday.
• Oil: Who is the bear driving up the price of U.S. stock options?

Volatility Voicemail: Listener questions and comments

• Question from NJ42 - Where do you think the next big development will come from in volatility research or trading?
• Question from Alistair - Why are the volatility offerings effectively limited to the S&P 500? Why are there not any real offerings for commodity volatility? People active in those markets also want to hedge their volatility risk?

Crystal Ball: What is left after the Fed?