Why Cboe Is Plunging: ‘Retail Investors May Not Be Too Keen To Trade Volatility Anymore’

As noted earlier, Cboe is in a goddamn downward spiral on Tuesday on the heels of the dramatic moves in the VIX and the associated liquidation/termination/WTF moment for multiple volatility vehicles including XIV which fell victim to the dreaded "acceleration" event. As harrowing as this most assuredly was, it was also entirely predictable. For months on end analysts have been screaming to anyone who would listen that thanks to the low starting point, even a nominally small VIX spike had the po