Kurt S. Altrichter

SKEW Below 140 Signals Institutional Hedge Unwind

SKEW just closed below 140. Falling $SKEW = institutions unwinding tail-risk hedges (OTM puts get cheaper) and/or quietly reducing equity exposure. Past cycles: Sustained declines often marked distribution phases — rallies fade as protection demand evaporates and complacency builds. If it breaks lower again → more pressure on upside momentum. If it stabilizes/bounces here → potential exhaustion of selling, room to grind higher. Time will tell.