Daily 20 point opening gaps such as we see all the time now, didn't used to be considered "normal"...because they're not:
To put this into context the largest gap EVER was Aug. 24th, 2015 @100 S&P points...
60 day realized volatility with VIX:
Options Implied Volatility (VXO)
The source of this overnight risk:
JPY carry aka. China unwind...
This is a potential gap right here...
S&P versus JPY:
