The MOVE Index is the bond market equivalent of the VIX Index. It measures the implied volatility of 1-month options from the 2-year note to the 30-year bond.

Today’s closed was 153.9.

The shaded area is inside 2 standard deviations. So, 153.9 above the shaded area means it is… pic.twitter.com/CrZoTxoNUs

— Jim Bianco biancoresearch.eth (@biancoresearch) April 5, 2023