How to deal with VIX

Hey guys, assuming you are long some options spreads on individual stocks and the vix tanks, any idea to hedge out this type of risk?

EliteTraderNYC

 

nope. if you are long vol and vol comes in, you lose money.

 

Sell options prior to the VIX tanking

 

Perhaps I should consider buying VIX put options to hedge my position in long premium.

 

You haven't stated what your position was but how
Much of your pnl came from vega?

 

+1

 

You can try selling a few extra calls. eg 10x12 vs 10x10. try back testing that.

 

Its front month at the money so Vega is a lot.