VIX opened at 38 this morning

And immediately dropped. Is this a bad print? Or is it fear at the open rapidly dissipating?

It lasted just a couple minutes, it appears.

VIX 38 at the open seems weird when the market opened very close to yesterday's closing value.

http://finance.yahoo.com/q?s=^VIX

 

28.32 was the high print of the day @ 9:48AM.

 

Bad print

 

explains a lot.