There is growing concern that an unpriced risk could knock the bull market off its feet.
Trump Media has become the latest way for speculators to use the stock market as a casino.
The exotic options are designed to deal with stretched equity valuations.
Investors might see their risk appetite grow after a couple of key moments this week.
As a hedge, JPMorgan's strategists recommended put-spread collars on the S&P 500 Index.
The flight from equities coincides with a surge in money-market fund assets.
Since a version of the VIX started in 1993, the index has never even clocked 100.
Half a dozen companies account for virtually all of this year's advance among the S&P 500.
The reconstitution will increase the concentration of the top 10 largest companies in the large-cap Russell 1000 Index.
Strategist Savita Subramanian says there's a case to be made for a rally in cyclical stocks that have underperformed.