How big was last Thursday's liquidation cascade compared to previous events?

Last Thursday saw the return of volatility to the charts, after a lengthy period of crabbing.

But how big was the liquidation cascade? Well, here is a quick look at that move compared to other similar historical events.

Below you see the total $ value allocated in futures contracts (non-expiring), making last Thursday's the 5th largest daily change on record!

https://preview.redd.it/hrb5rlofjijb1.png?2560&format=png&auto=webp&s=db78cd30176d871124878eccf2b0867a89ba75e1

If you then look at the total amount of $ allocated in open futures contracts, last Thursday's move was the 2nd biggest on record.

https://twitter.com/jimmyvs24/status/1693653439060783182

So clearly, it was a hefty move. Perhaps to some, not a surprise, see my post from about a week ago highlighting the longest periods of no volatility are often followed by the sharpest spikes in volatility! - Well, it happened again. Stay safe out there, only use leverage if you're comfortable losing what you put in!