A VIX Xmas Card

Inspired by Mark Perry, here is my version of the stock market's VIX Christmas Card: the gift of implied volatility that has returned to almost-normal levels. We couldn't ask for much more at this time of the year. One year ago the world celebrated Christmas and New Year's with Great Fear and Trembling, whereas today we are getting ready to celebrate the return of conditions that are much closer to normal. That's a really big deal.