Market volatility has moved higher this week with the major equity averages experiencing another volatile week (average daily swing in the Dow of ~460 points) and set to end lower. The primary volatility indices spiked to multi-year highs today, with the VIX reaching 89.53 and VXN reaching 86.52, as stocks opened sharply lower after futures traded limit down in the premarket. The VXO (the old calculation of the VIX) rose to 86.15, but this is still below the Oct 10 high of 103.41 and well below the historic high of ~172 in Oct 1987... Over the course of the week the VIX has increased 10% to 77.46, while the tech-focused VXN has increased 9% to 77.80. The major averages are off their lows of the week, but still down with the Dow (-3.8%) faring better than the S&P 500 (-5.5%) and the Nasdaq is (-8.0%)... The CBOE put/call ratio is currently at 1.30, indicating higher put trading than call trading.