VVIX Crazy High...and yet...Low
09/10/2015 8:00 am EST
Though it is finally off its highs from the last few weeks, the fact that VVIX has stayed this high for this long makes option trader Mark Sebastian, of OptionPit.com, believe his market story may not be quite over and he outlines why he likes buying premium on these vol sell-offs and thinks VIX call spreads might be the cheapest market hedge right now.
The VVIX is finally off of its highs from the last few weeks. Even so, VVIX at its current level would qualify as a major VIX options vol spike over the last two years. The fact that VVIX has stayed this high for this long makes me believe our market story may not be quite over.
By Mark Sebastian, Blogger and Contributor, OptionPit.com