Here's OVX since May 2007. As you know, it's based on USO so it's not the same as OIV but it's very close.
You just kinda freaked me out. Well... I'll look at it this way when things are cheap they tend to get cheaper by then I'll be out.
You cannot price volatility in isolation. You have to look at the underlying. You also have to look at where you are in the market. Think about this, you can buy an ATM straddle 30 days out in WTI that is equal to a single days range!!!!! That is insane. Why on God's green earth would you sell that. WTI is moving 5 pts a day. Hell it comes off 3 pts during lunch when it usually has a .30 range. I measure vol by what I'm getting in return. I just don't say, oh look, vol is up a lot. Of course it is. WTI had .75 to 1.00 ranges a few months ago and you had to pay 5 times that daily range to get an ATM straddle. Now the market is offering you 1X!