Wow. Way to general and in my experiance not true. Having the ability to follow a thesis on what your expectations are with the market today, and having the flexibility to do what works, is a better way of looking at it, IMO.
WWWWOW. That strikes me as: "70+ y.o. Trumpeter challenges 30y.o gouty Kim to a cage match, winner takes on Xi for the Korean Peninsula" headline. I mean, what else? I'll take a look later, and see what might come to mind....
The opportunity here is selling something way overpriced. Puts that sold at .25 on the opening, could be bought back at .10, 5 seconds later. You could also do time spreads for credits. I hate being short puts, even out of the money ones, but at the right price its worth it if you hedge or cover right away. That's the opportunity here, you can cover immediately for a profit.
There is a risk to every trade. I am short for probably less then a minute. Can something happen in that minute? Yes, but a risk worth taking. This is coming from someone who is rarely short premium and never net short puts overnight.
I'm assuming your shorts got squeezed the f*ck out, it temporarily dipped only. Unless you had precise hindsight timing, and closed around the dip bottom. I personally waited till 10:20am to initiate my long position call. -- not immediately at the open, or to assume then. You have to reasonably, loosely, generally know what to semi-expect...and wait and sit, and watch and monitor and position for it.
VIX Mysteriously Spikes At Auction... In Favor Of Record Spec Longs https://www.zerohedge.com/news/2018-04-18/vix-mysteriously-spikes-auction-favor-record-spec-longs
Not meaningless or business as usual. These are huge orders that are sent in that will change the vix settlement price. Customers have an opportunity to participate in these orders, which they don't have on other days in the SPX. Size is substantially larger than any other time.
VIX and broad market SPX and SPY option volume so far today is very tame, or normal/average. https://www.barchart.com/options/most-active/indices?viewName=main Only 400,000 and 800,000 and 2,000,000, VIX and SPX and SPY option volume. ...I've seen other days where the volume so far is easily double or triple or even quadruple that. Like I said, nothing to write home about. -- If you will easily get this excited for every news story in financial markets daily...you will have your head spinning. and blood pressure up. and trading account blown-up. Hoo-Ah`