Graphic: Wall Street's high-stake bets on calm less risky than they seem
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NEW YORK (Reuters) - At a glance, a near-record accumulation of speculative bets on market tranquility looks like it couldn't have come at a worse time. Elevated net short positions in Cboe Volatility Index futures are reminiscent of a similar spike in 2017, when prolonged calm in U.S. stocks prompted a rush into short-volatility exchange-traded products. That episode ended with billions of dollars in losses in early 2018 when a surge in volatility caught investors unprepared.But Wall Street..