At the start of the week, VIX jumped before the market opene. It temporarily exceeded 60 points. As far as I know, the highest value of VIX was around 75 points, so it was quite a big spike. It has calmed down a bit since then, but the term structure has almost entered backwardation. I think the peak of VIX is probably around here, but I guess the backwardation will continue while it goes up and down for a while. I believe it will eventually return, so I added a little to my Oct-Nov position and lowered the average price. Let’s look for other chance of timing to add.
