Prior to 2008, the VIX had only managed to nudge its way over 45 on three instances:
- The 1998 Long-Term Capital Management crisis
- The Russian Financial Crisis that preceded the LTCM debacle
- The height of the dotcom crash, when WorldCom filed for bankruptcy
The table below summarizes the top ten pre-2008 VIX closing highs. Should it hold, today’s VIX spike to 45.21 would put it at #3 all-time outside of the 2008 financial crisis.
Disclosure(s): short VIX at time of writing