The S&P 500 made new highs and VXST ran for cover almost hitting the single digits this past week dropping 24%. VXST takes a cue from what the S&P 500 is doing, but also has a forward looking component as well. There is very little in the form of known unknowns in the next week so VXST is reflecting this as well.
I’m surprised to see the September 10th contract at a discount to the September 3rd since the 10th is the first expiration after the August employment report which is due out on the 5th. Out of interest, I’ll be keeping an eye on that pricing relationship over the next week.