Last night the VIX surged to just under 30 points, then settled down a bit, but the term structure has flattened out. Right now the near term 2 months are still in the positive, but the key point is whether it will continue to go into backwardation for the entire period.
I’ve already closed out my near term positions, so I’d like to aim for bonus profits when it goes back. It will definitely go back someday, but it’s difficult to tell when.
