Hey everyone, Iâm quite the lurker, but was hoping some of you could help me out with this. Within this past month I have decided to open my first options account. I made the decision to do so in order to utilize the leverage and hedging abilities options provide. My question is regarding VIX calls. Iâm having trouble deciding how many months out the expiration should be for hedging purposes. What troubles me is the huge time premium do to the underlying volatility, and my lack of knowledge with the time erosion curve on these securities. I'd greatly appreciate any advice/pointers/links to good articles on this. FYI- I am currently holding May $20 dollar calls to hedge a basket of mostly long calls, with expected trade durations of about 1-4 months. Thanks for the help.