You joke about it, but this is the exact reason that trading VIX is so tricky. To someone unfamiliar with VIX movement there is absolutely no way to determine the PoP on his position. Last year when VIX was at a natural floor, it was really easy to make money. Now it is crazy.
i trade the options fairly actively. short august calls at strikes of 21, 27.5, and 35. bought back aug. calls with a strike of 30 on friday for a decent loss. probably take some more off next week, but losses are offsetting some of the gains from a fairly large es/ym short position and long atm/itm puts on es/ym/spi. but vix in the mid 30's to 40's next week will suck for me
yeah. I only read your first post and the post I replied too Didn't know someone had bet you that you'd lose!