Even in 2008 the last four trading days of the year following Christmas saw a greater then 4% increase. Last year vol was probably sub 12, now it’s over 30, big moves both ways possible.
It was done through vol suppression during the Yellen regime. It's no coincidence the vol explosion occurred on February 5 this year, the day Powell ascended to fed chair.
The ppt was suppressing vol all throughout Yellen's tenure at any sign of trouble, even at all time highs. The first day of Powell's regime 2/5, was the vol explosion. The President's Working Group has a broad mandate to maintain investor confidence. Operations are carried out by the New York...
Interactive brokers was down for over two hours last night. You can see the volume pick up around 8:30 pm est that's about when ib came back up. By looking at the book I could tell it was not just ib.