We are a bit spoiled these days. A 10-point daily range on the ES was the norm for years. CME initial margin was under $2000. No thought of introducing micros back then. The cost of trading micros is a rip-off in my opinion. It will be interesting to see what happens when volatility cycles back to small daily ranges and the initial margin for the minis and the micros converges. Oh it will happen, but hopefully not for a long, long while. Make hay while the sun shines.
That will never again happen. Ever. VIX will never reach 9 again. 15 is your new low. From there the sky is the limit.
Interesting how price will react to this level (Russell) which was a total PITA previously, I expect a clean break though and a challenge of the ATH. Can only be hopeful lol