Backwardation in VIX Futures

VIX futures have gone into backwardation opposed to their regular cantango (i.e. futures for VIX are now cheaper than current VIX levels), causing VXX to trend higher than VIX. Very strong demand for VXX has caused backwardation and is usually triggered when the market is extremely volatile. Just something to be aware of and wouldn't be surprised if volatility starts to calm down soon in near future.