The Volatility Brief

The Volatility Brief

Systematic volatility research, market regime analysis, and quantitative insights from BlackShip Capital.

The vol collapse that broke long-vol funds

May 3, 2026

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3 min read

The vol collapse that broke long-vol funds

VXX -35%. UVXY -55%. The BlackShip Capital strategy +1.21%. What April's vol collapse revealed.

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The regime shifted. Here is what we saw.

Apr 6, 2026

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6 min read

The regime shifted. Here is what we saw.

VIX spiked to 28. The surface told a different story.