NBS (nbs@noagendasocial.com)'s status on Friday, 28-Jul-2023 08:47:59 JST

@midway @DrFell

Depends on the vol you're talking about

Fixed strike index vol came off 40bps on the open. Largely in anticipation of a large customer (holding 54k long put spreads, about 13mm Vega) in Aug31st and Sep. He sold out 24k of the Aug31st ahead of FOMC, but kept the Sept on (30k)

Fixed strike vol began rising again into the meeting in the fronts; front week bid about 55bps on the day, while front months net up 15bps

So fixed strike vol actually went higher today across most tenor