SKEW

The SKEW chart surging again for the second time in a week was recently posted, for those who don't know what SKEW is, it's an Index the CBOE publishes (they publish the VIX as well) that gives you the probabilities of an improbable event, a black swan market crash. The recent surge has been alarming, but while the CBOE has maintained the SKEW data for some time, they only recently made it public so looking back historically has been difficult as I have been looking for a long term chart of the SKEW, I just found one.

Here's the recent surge in SKEW, keep in mind the long term average is $115 and historically it rarely hit $140. Below you can see it move off the $115 area and quickly spike to the $139 area.

Here's a historical chart of SKEW vs the SPX (Skew is black).