Kudos to Bespoke Investment Group for coming up with yet another interesting graphic, which I have reproduced below.
The graphic shows that the average daily volatility of the SPX was 0.72% in 2007, higher than the low volatility years of 2004-2006, but below the 80 year average of 0.75%.
For more information, try the original Volatility? What Volatility? post at Bespoke.