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# ![@BenKizemchuk Avatar](https://lunarcrush.com/gi/w:26/cr:twitter::376887294.png) @BenKizemchuk Ben Kizemchuk

Ben Kizemchuk posts on X about vix, $spx, $vix, $spy the most. They currently have XXXXX followers and XXX posts still getting attention that total XXXXXX engagements in the last XX hours.

### Engagements: XXXXXX [#](/creator/twitter::376887294/interactions)
![Engagements Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::376887294/c:line/m:interactions.svg)

- X Week XXXXXXX +29%
- X Month XXXXXXX +831%
- X Months XXXXXXXXX +325%
- X Year XXXXXXXXX +1,048%

### Mentions: XX [#](/creator/twitter::376887294/posts_active)
![Mentions Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::376887294/c:line/m:posts_active.svg)

- X Week XX +23%
- X Month XXX +105%
- X Months XXX +127%
- X Year XXXXX +303%

### Followers: XXXXX [#](/creator/twitter::376887294/followers)
![Followers Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::376887294/c:line/m:followers.svg)

- X Week XXXXX +3.40%
- X Month XXXXX +27%
- X Months XXXXX +153%
- X Year XXXXX +285%

### CreatorRank: XXXXXXX [#](/creator/twitter::376887294/influencer_rank)
![CreatorRank Line Chart](https://lunarcrush.com/gi/w:600/cr:twitter::376887294/c:line/m:influencer_rank.svg)

### Social Influence [#](/creator/twitter::376887294/influence)
---

**Social category influence**
[finance](/list/finance)  XXXXX% [stocks](/list/stocks)  XXXX% [currencies](/list/currencies)  XXX%

**Social topic influence**
[vix](/topic/vix) #50, [$spx](/topic/$spx) #47, [$vix](/topic/$vix) #13, [$spy](/topic/$spy) #440, [spx](/topic/spx) #158, [spy](/topic/spy) #623, [fed](/topic/fed) 1.28%, [gamma](/topic/gamma) #168, [dominance](/topic/dominance) #424, [$jpy](/topic/$jpy) #20

**Top accounts mentioned or mentioned by**
[@davmk1](/creator/undefined) [@henryro23231082](/creator/undefined) [@spotgamma](/creator/undefined) [@wbmosler](/creator/undefined) [@sonofabeach56](/creator/undefined) [@patternwatch1](/creator/undefined) [@beaglebentley](/creator/undefined) [@alwyns18](/creator/undefined) [@jonbryant421](/creator/undefined) [@fejauinc](/creator/undefined) [@nickyn00dl3s](/creator/undefined) [@dannydayan5](/creator/undefined) [@damndane](/creator/undefined) [@bankunlimited](/creator/undefined) [@thefreshfilter](/creator/undefined) [@writeswong](/creator/undefined) [@ryanlee09739098](/creator/undefined) [@profplum99](/creator/undefined) [@lordpos3idon](/creator/undefined) [@compounds365](/creator/undefined)

**Top assets mentioned**
[SPX6900 (SPX)](/topic/$spx) [Vixco (VIX)](/topic/$vix) [SPDR S&P XXX ETF Trust (SPY)](/topic/$spy)
### Top Social Posts [#](/creator/twitter::376887294/posts)
---
Top posts by engagements in the last XX hours

"The most interesting this about this study is that XX% $vix declines usually happen as a crescendo after the market has already been falling for days/weeks. Today we're barely off all time highs the market down immaterially. And yet the $VIX is already doing rare panicky stuff. The fact we're seen this level of options pricing volatility already suggests to me that we're going to see A LOT more volatility as the speculative options excesses of the last months is wrung out of the system. Recent correlation and dispersion measures suggest the options market is so broken that fixing it will be a"  
[X Link](https://x.com/BenKizemchuk/status/1979509725050872197) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T11:27Z 9591 followers, 54.5K engagements


"@anongameon Yup. I did not anticipate a negative gamma rocket like this"  
[X Link](https://x.com/BenKizemchuk/status/1980321813801627999) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T17:14Z 9591 followers, XXX engagements


"@LordPos3idon cleaner expression no"  
[X Link](https://x.com/BenKizemchuk/status/1980352596843086019) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T19:17Z 9591 followers, XXX engagements


"tldr: Fed plumbing is changing to entrench fiscal dominance and end Minsky cycle dynamics Reserves GDP Targeting and the Architecture of Fiscal Dominance One of the central dilemmas of modern economies is how to reconcile the natural expansion of loans and financial claims with the limited base of reserves and liquid backstops. Historically credit booms ended in crisis because loans and leases grew faster than the underlying reserve base leaving the system fragile. When defaults rose or liquidity dried up banks lacked the reserves to absorb losses or meet funding calls. The mismatch between"  
[X Link](https://x.com/BenKizemchuk/status/1964313961488080950) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-09-06T13:05Z 9567 followers, 19.1K engagements


"We've reached stall speed. Only once since 1975 has the S&P 500's daily momentum stalled-out for this long. April XX 2019. $spy $spx $vix"  
[X Link](https://x.com/BenKizemchuk/status/1975988671615545599) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-08T18:16Z 9534 followers, 9397 engagements


"Interesting levels on $jpy $spx"  
[X Link](https://x.com/BenKizemchuk/status/1976280011662557225) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-09T13:34Z 9576 followers, 3614 engagements


"What does the volume calls vs puts imply about $vix and $spy Look at the blue bars in the second chart"  
[X Link](https://x.com/BenKizemchuk/status/1976399090213949553) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-09T21:27Z 9564 followers, 4401 engagements


"In addition to a number of proprietary measures some simple things I'm looking for now that the unwind has begun: $SPY / $SPX : $VIX Correlation back to lows $JPY back to trendline (probably) $SPY likely revisits heavy volume bar support from Aug X Unwind in call volume"  
[X Link](https://x.com/BenKizemchuk/status/1977021028066029724) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-11T14:38Z 9577 followers, 4482 engagements


"The thing one must keep in mind is your clients don't necessarily understand/want options in their accounts no alternatives / lev / vol / inverse products either. Its not that the industry is stuck in the stone age -- far from it -- its that portfolio efficiency must be understood in context of serving one's clients their investment objectives and risk tolerances"  
[X Link](https://x.com/BenKizemchuk/status/1977712595269230764) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-13T12:26Z 9535 followers, XXX engagements


"@Compounds365 @Honza_Ondracka @fejau_inc @BankUnlimited basis trades happen across the curve but are concentrated at the short end where this is usually more liquidity bills to 5yrs"  
[X Link](https://x.com/BenKizemchuk/status/1979127487230619723) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T10:08Z 9525 followers, XXX engagements


"@NICKYN00DL3S commercial bank reserves held at the fed"  
[X Link](https://x.com/BenKizemchuk/status/1979127545216864589) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T10:09Z 9537 followers, XXX engagements


"@wbmosler @FrankPalmeri1 @MMTmacrotrader The bigger issue is how it can potentially impact basis trade:"  
[X Link](https://x.com/BenKizemchuk/status/1979172661998624893) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T13:08Z 9528 followers, XXX engagements


"Oct $VIX futures landing on support"  
[X Link](https://x.com/BenKizemchuk/status/1979270359124688992) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T19:36Z 9578 followers, 2798 engagements


"@asxpeasant No the issuance will carry on removing money from the private sector. The gov discretionary spending however will not. This likely increases liquidity problems in the US financial system in my view"  
[X Link](https://x.com/BenKizemchuk/status/1979492261038571918) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T10:18Z 9567 followers, XXX engagements


"@Sonny_Beez Oh I see. Well certainly no "victim blaming" here as I've had the best year of my entire career. And flipped bearish just under a month ago. So far so good"  
[X Link](https://x.com/BenKizemchuk/status/1979498016470896684) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T10:41Z 9567 followers, XXX engagements


"You should listen to this podcast recorded Oct X where I laid out exactly why equities are likely to decline $spy $spx $vix"  
[X Link](https://x.com/BenKizemchuk/status/1976740683101663264) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-10T20:04Z 9590 followers, 9053 engagements


"Breadth confirming more to go in my opinion $spy $spx"  
[X Link](https://x.com/BenKizemchuk/status/1978025898956759435) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-14T09:11Z 9591 followers, 7987 engagements


"Honestly can't believe I'm posting this. Live pattern match: Oct XX 1987 Oct XX 1997 Before you get all wound up on 1987 this is a match on pattern not price objective. $spy $spx"  
[X Link](https://x.com/BenKizemchuk/status/1979181697619911103) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T13:44Z 9591 followers, 10.7K engagements


"That's at least $XXXXX trillion dollars before Nov 16"  
[X Link](https://x.com/BenKizemchuk/status/1979487741936095505) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T10:00Z 9591 followers, 3117 engagements


"Maybe not a Black Monday but what about grey"  
[X Link](https://x.com/BenKizemchuk/status/1979493800000303453) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T10:24Z 9591 followers, 4161 engagements


"I still think we've in a regime of Fiscal Dominance but it cuts both ways. If the pace of fiscal spending recedes as it has it has an immediate effect on financial system liquidity and an eventual effect on the economy. The coming wave of +$2.4 trillion of issuance before Nov XX (most likely shutdown resolution date) meanwhile removes more cash from the system. Under normal conditions gov would be spending that out into private sector but given the shutdown much of that remains "trapped" in the TGA adding to the current liquidity problem. There is nothing the Fed can do at the moment to"  
[X Link](https://x.com/BenKizemchuk/status/1979506853290864932) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T11:16Z 9591 followers, 5179 engagements


"This exchange has me thinking more deeply about the structural resilience of basis trades in the face of what I see as deteriorating funding conditions. If SOFRRRP is 30bps and the Treasuryfutures basis is tight yet the trade persists then something else is absorbing the pressure. The trader I engaged with here implied that whats commonly viewed as a hedge (short SOFR futures) may actually be the primary leg. That inversion reframes the entire structure. So whats keeping the trade alive I am thinking out loud here and would love your feedback: One possibility is collateral transformation"  
[X Link](https://x.com/BenKizemchuk/status/1979997091821699488) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-19T19:44Z 9591 followers, 12.4K engagements


"@deerpointmacro Thank you much appreciated"  
[X Link](https://x.com/BenKizemchuk/status/1980259849205108780) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T13:08Z 9591 followers, XXX engagements


"Interesting to see $spx $vix correlation inflect positive today"  
[X Link](https://x.com/BenKizemchuk/status/1980317242257752485) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T16:56Z 9591 followers, 3269 engagements


"@LordPos3idon But also this week Has this not been a thing all summer already"  
[X Link](https://x.com/BenKizemchuk/status/1980345985894347135) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T18:50Z 9591 followers, XXX engagements


"@PeterMax80 @Sumit9ht7 I'd call that light"  
[X Link](https://x.com/BenKizemchuk/status/1980364411266297986) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T20:04Z 9591 followers, XXX engagements


"🚨 Market liquidity is getting tighter"  
[X Link](https://x.com/BenKizemchuk/status/1978804833537737050) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-16T12:46Z 9591 followers, 28.5K engagements


"A 29bps spread between SOFR and RRP is major. In the swaps market SOFR serves as both the floating leg reference rate and the discounting curve for collateralized trades. When SOFR rises sharply above RRP it signals elevated funding costs which distorts swap pricing introduces basis risk and undermines hedges. Eg using SOFR swaps to hedge floating-rate debt may find the hedge misaligned if the swap resets at a rate above actual funding costs leading to valuation mismatches and risk management challenges. This dislocation also affects margining various collateral models and generally the"  
[X Link](https://x.com/BenKizemchuk/status/1978824859976098147) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-16T14:06Z 9591 followers, 23.9K engagements


"Putting this all together 🧵 If the government shutdown extends into November as betting markets currently suggest the US financial system will be operating under an ample reserves framework with increasingly scarce reserves. This reserve scarcity places acute strain on short-term funding rates which are the backbone of financial system plumbing. These rates have been steadily rising over the past month and are now accelerating. If they arent contained the risk of a basis trade unwind grows sharply. That could ripple across Treasury markets swaps and broader asset pricing with significant"  
[X Link](https://x.com/BenKizemchuk/status/1978902342541152352) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-16T19:14Z 9591 followers, 37.9K engagements


"Another pattern: Decline + Compression hinged on $VIX intraday vol April 2024 Feb 2020 $spy $vix $spx"  
[X Link](https://x.com/BenKizemchuk/status/1979261999289684001) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T19:03Z 9591 followers, 4796 engagements


"So short SOFR is the trade and basis is funding that Even if SOFR short is the primary rising repo rates still pressure the structure. Even if its multileg any leg that relies on financing is getting more expensive here OR the hedge is misaligned. Basekets and CTD allow some flexibility but they don't eliminate that rising costs reduce profitability"  
[X Link](https://x.com/BenKizemchuk/status/1979911551642480772) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-19T14:04Z 9591 followers, 1659 engagements


"It really does seem like most people here believe the dip is over"  
[X Link](https://x.com/BenKizemchuk/status/1980312194949800234) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T16:36Z 9591 followers, 11.1K engagements


"Love @SubuTrade's work but need to reframe this in terms of $vix points. Here is every time post-2003 that VIX fell XXXX points from yesterday's high:"  
[X Link](https://x.com/BenKizemchuk/status/1980408499835412743) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T22:59Z 9591 followers, 3613 engagements


"As of yesterdays close the rolling 20day correlation between $VIX and $SPX stands at XXXX an unusually strong positive relationship. Historically we've only seen seven such clusters in the dataset each shared below. Notably the results of the Wavematch model I shared earlier independently flagged the January 2018 and September 2020 clusters both of which preceded significant volatility events. This kind of structural anomaly rarely persists for long. $spy $vxx"  
[X Link](https://x.com/BenKizemchuk/status/1973678562776326314) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-02T09:16Z 9583 followers, 20.7K engagements


"This pattern match was based on a few straightforward price features observed over the past few sessions. I then looked back historically for similar setups. Not to project past declines forward but to identify recurring conditions. This isnt a case of curve fitting or hindsight bias. Ive been around the block enough times to know the difference"  
[X Link](https://x.com/BenKizemchuk/status/1979560535990374794) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T14:49Z 9587 followers, XX engagements


"@HenryRo23231082 Because @spotgamma does a fantastic job explaining what's been happening in the options market. We can disagree on what happens next"  
[X Link](https://x.com/BenKizemchuk/status/1979591134470091203) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T16:51Z 9584 followers, XXX engagements


"@HenryRo23231082 @spotgamma No one is contesting the fact VIX is in backwardation. You should watch the later part of the interview around past the +1hr mark"  
[X Link](https://x.com/BenKizemchuk/status/1979598525382926662) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T17:20Z 9587 followers, XX engagements


"@HenryRo23231082 @spotgamma You might want to watch the whole thing"  
[X Link](https://x.com/BenKizemchuk/status/1979598836562866379) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T17:21Z 9584 followers, XXX engagements


"@HenryRo23231082 @spotgamma No"  
[X Link](https://x.com/BenKizemchuk/status/1979599775935914432) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T17:25Z 9584 followers, XXX engagements


"@HenryRo23231082 @spotgamma To expand on that eventually VIX will find itself in contango because volatility is mean reverting. However backwardation can and often does lead to even more backwardation. In other words things can get more volatile before calm returns"  
[X Link](https://x.com/BenKizemchuk/status/1979600282586841247) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T17:27Z 9585 followers, XXX engagements


"@NishantSeth201 @HenryRo23231082 @spotgamma Vix going down is not the same thing as equities going up"  
[X Link](https://x.com/BenKizemchuk/status/1979612334302605796) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T18:15Z 9584 followers, XX engagements


"@somerealthought @DannyDayan5 @HenryRo23231082 @spotgamma Thats the issue here. Consensus trade is vol is over"  
[X Link](https://x.com/BenKizemchuk/status/1979629134843404402) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T19:22Z 9584 followers, XXX engagements


"@NishantSeth201 @HenryRo23231082 @spotgamma Normally vix futures dont spike over XX at X% from ath"  
[X Link](https://x.com/BenKizemchuk/status/1979654597406036337) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T21:03Z 9585 followers, XX engagements


"@DannyDayan5 @somerealthought @HenryRo23231082 @spotgamma Vix rarely falls XX% in a day. You dont get a drop that size without the majority thinking vol is overpriced"  
[X Link](https://x.com/BenKizemchuk/status/1979655698222108967) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T21:07Z 9587 followers, XXX engagements


"Extremely rare to see price fall from an all-time high through the bottom of a 2std Bollinger band. Only match is Nov XX 1991. Not to be construed as a price target only as pattern. Fits my expectation for a sharp and short correction before a strong finish into year-end. $spx $spy"  
[X Link](https://x.com/BenKizemchuk/status/1976957804641497520) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-11T10:27Z 9590 followers, 12.4K engagements


"@PliskinSnak3 The hard way is a decline in equities and higher implied volatility in my opinion"  
[X Link](https://x.com/BenKizemchuk/status/1979666128449503454) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T21:49Z 9591 followers, XXX engagements


"I've never heard of that before -- ABC. Not sure what it entails apart from the obvious permabull Definitely not me. Would love to get into that more but I am unable to comment on my/client positioning on this platform. I am currently bearish on equities. My view is that large treasury issuance without the usual fiscal spend has caused tightening liquidity conditions that are manifesting in various ways in different markets. SOFR up is one of these manifestations"  
[X Link](https://x.com/BenKizemchuk/status/1979996375556456876) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-19T19:41Z 9591 followers, XXX engagements


"Weird that $VVIX is +130 while $SPY is only X% from ATH highs"  
[X Link](https://x.com/BenKizemchuk/status/1978890890283249980) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-16T18:28Z 9592 followers, 4096 engagements


"🚨Alarm bells should be going off at the Fed today"  
[X Link](https://x.com/BenKizemchuk/status/1979181654494056852) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T13:44Z 9591 followers, 15.2K engagements


"Historically this isn't over until $Spx : $VIX correlation travels back to the lows. Sept 2020 Jan 2018 Feb 1996 (noting new vix calc) Feb 1993 (noting new vix calc)"  
[X Link](https://x.com/BenKizemchuk/status/1979267400823697462) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-17T19:24Z 9591 followers, 2669 engagements


"Everyone should watch this:"  
[X Link](https://x.com/BenKizemchuk/status/1979569142480195983) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-18T15:23Z 9589 followers, 9220 engagements


"@LordPos3idon I don't mean in terms of gathering insight from polymarket trades. I mean if you want exposure to Xi losing power as a trade there is more upside via polymarket than calls depending on size/book depth you're looking for"  
[X Link](https://x.com/BenKizemchuk/status/1980355080277909567) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T19:26Z 9591 followers, XXX engagements


"The $VIX surged above XX on Friday marking a one-month high. Yet the index put/call volume ratio only reached a modest XXXX. An unusually low reading given the magnitude of the volatility spike. Below I highlight every instance where the VIX exceeded XX while the put/call ratio remained below XXXX. This setup is particularly noteworthy when viewed through the lens of the pre- and post-2022 VIX regimes which Ive analyzed in prior work. Notably in the pre-2022 regime low put/call readings during VIX spikes preceded more pronounced surges in hedging activity clustered days later. This suggests a"  
[X Link](https://x.com/BenKizemchuk/status/1980210705367503108) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T09:53Z 9591 followers, 9136 engagements


"@SpringBrin589 I did not anticipate this degree of negative gamma rocketing price higher"  
[X Link](https://x.com/BenKizemchuk/status/1980322314165403675) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T17:16Z 9591 followers, XXX engagements


"@EpicCharting The things I am monitoring for a closure of this volatility window remain live. Its all on my TL"  
[X Link](https://x.com/BenKizemchuk/status/1980421668356125176) [@BenKizemchuk](/creator/x/BenKizemchuk) 2025-10-20T23:51Z 9591 followers, XXX engagements