Ahead Of The February 2 "Fireworks", Goldman Spots A "Phenomenon That Has Never Before Occured"

Echoing the observations from Nomura's Charlie McElligott, who warned that as we head into the "largest event-risk" week in recent memory, volatility is extremely mispriced due to a (mostly retail) army of volatility sellers who have successfully slammed both VIX and VIXX to precarious levels...

... Goldman trader Lee Coppersmith joins the bandwagon of warnings about potential fireworks next week, and writes that the US market will pay close attention to what happens between now and Feb 2nd, where among other catalysts, we get: