$TVIX Yesterday’s news that the US President was hinting of mediating between Russia and Saudi Arabia in the ongoing oil price war had a positive impact on the oil price. Also US companies with weak balance sheets were bid yesterday up 4.7% from open to close and the lows improved significantly from the lows in the prior session. The VIX Index that is quoted at 66 this morning but the May VIX futures contract is also falling maintaining the steepness in the backwardation meaning that long volatility is still seeing tailwind – long VIX futures strategies are up again today in European session.

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