Without a doubt, the official VIX calculation reported a level of 65.73 on Monday at 8:34am ET. That level was posted and is now being used by many people to justify long positions in equities. The theory seems to be that we had an “epic” spike in volatility indicating panic, and that panic has since receded – hence creating a buying opportunity. Notice, that we chose to use the word volatility here, partly because many seem to use VIX and Vol interchangeably – which is not accurate. In any case, normally we’d just leave this alone, but the fact that ... Did VIX Really Hit 65 on Monday?