The S&P 500 Index ($SPX) has been hitting new record highs, recently closing above 6,400 for the first time ever. But beneath the celebration of all-time highs lies a quieter signal: the Cboe Volatility Index ($VIX) recently slipped below 15, hitting its lowest level of the year.
That combination of soaring stock prices and historically cheap options premiums has seasoned traders like John Rowland, CMT, thinking about hedging.
