(A New) Record VIX Short

Recently, the potential for VIX ETPs to make a bad situation worse (as measured by vega-to-buy on a hypothetical N-vol. spike in the VIX futures curve) hit an all-time record. Here's the chart on that courtesy of Deutsche Bank: "VIX ETP providers would need to buy around $150mm vega, which is ~50% of the average daily 1st/2nd/3rd VIX futures volume over the last 2 months," Deutsche wrote, in a note out earlier this month, before adding that "this vega-to-buy is at a record highs, al