WTF? Isn't that article noting nothing really more than buying volatility protection at peak volatility is expensive? Duh. Now is the time to be SELLING volatility products. Although, I do note that the VIX was very stubborn to going up while the market was cratering this time around. Its like it didn't take the possibility of a 50% market drop seriously even when we were having 3%, 4%, close to 5% down days.
It’s indeed a secret in plain sight, vix mean reverting. Although the mean itself has risen in this environment. Let’s sell the house and blindly load up on (-1) vxx! (pun intended) But I think one can craft a system starting with selling naked calls on vix, if you are comfortable with occasional spikes.