Putting Bollinger Bands around the VIX shows a dramatic squeeze in volatility. The bands haven't been this tight in years. The VIX has been drifting between 24 and 22 for almost 2 months now. It looks to be setting up for a major move upwards. The VXN is near an all time low. Quite ironic considering the savage Nasdaq bear market of the last few years. The lower it goes the more optimistic people feel. From a contrarian's point of view, thats not very bullish. If the VIX goes below 20, that would be my signal to load the boat with more sept dia and spx puts.