Courtesy of ZeroHedge. View original post here.
Update 1510ET: Correlation may not be causation but seriously…
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Update 1450ET: Shortly after XIV re-opened and plunged, trigger circuit-breakers, we tweet-wondered if a short-squeeze was imminent…
Of course, XIV will close on Feb 20th at $4.22 – its termination value – but between then and now, who knows!
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After collapsing more than 90% overnight, the culprit – XIV, was halted and suffered a termination event this morning.
It has just re-opened, crashed, trigger volatility circuit-breakers, and is re-halted…
As it collapses back to its termination value at $4.22…