It's a fear indicator, so if you think the market is done going to the bathroom, buy OEX calls. I do not think the correction has subsided. Although, that is a nice VIX spike! surrrrrrrrrdo PS: We are almost done, NQ1900, ES1440 look like like train stations......13100ish on the dow.
there are vix futures. and there's options on the vix, so you could do a synthetic (buy a put and sell a call)
LOL...you crack me up. Too bad Corzine is out of Goldman...haha. I am sure JM would be happy to provide a reference on the soundness of your short vols if you need one!
Yes, i can read a CBOE brochure too. Thanks. I was referring to shorting at 24 as the op suggested so eloquently.
the problem with the VIX futes is the spread (usually) sux and they don't track the underlying VIX very closely at all.