The VIX or any other indicator one uses is short-term and can
change very quickly. Perhaps one should buy a staddle or a
strangle (less cost but lower probability than a Staddle) in the
current volitale market. Chances are good that the profit of one
leg may offset the cost of the strangle or staddle. Please comment.

The VIX being a short-term indicataor, I'm confused when you
suggested, in the past, a buy-and-hold on VIX options. (see below)

On Thursday, August 7, 2008 7:09 AM, "goldring harry"
hgtradergsf@... wrote:

I have said over and over again that the VIX is a terrible means by
which to trade...However, if one feels the need to buy options on the
VIX during periods of overextension of the Index, he must BUY-and-
HOLD the long option until settlement.. .In my view, it is the only
way to ' trade ' the VIX...Months ago when the VIX spiked to 33 I
recommended the Nov 26 puts...Had anyone bought those puts long at
that time and held til November, he probably will have reaped quite a
handsome profit...Only time w tell...

On Monday, February 4, 2008, 7:10 PM, goldring harry <hgtradergsf@
yahoo.com> wrote:

To all those traders interested in trading the VIX ...The Index rose
to 25.99 today due primarily to the weakness in today's mkt. Any
continuation of weakness at tomorrow ( Tuesday's ) open should take
the VIX to approx 26.5 - 26.75 levels...I would suggest anyone
interested in trading the VIX to consider the August 25 puts, (
ticker symbol ' vixty ' ) . Any bid in the 3.70 area should strike at
or near its open...One would not be wise to ever BTO VIX contracts,
whether it be puts or calls, at the market. Always use limit orders
when trading VIX options, or for any Index options, for that
matter...Pls be advised that this is a ' buy-and-hold ' proposition,
not one which can be day-traded. Anyone interested in earning trading
profit on the VIX must be willing to hold their positon virtually to
the point of expiration - in the example above that would mean
holding those long puts until the 3rd Friday of August.


--- In advancedoptionstrategies@yahoogroups.com, goldring harry
<hgtradergsf@...> wrote:
>
> Hello RV and all Group members...The mkts ( and the VIX ) are
seeing numbers not seen for over 5 years. Predicting this mkt
recently weighs the same odds as hitting the Powerball. However, the
day after I issued the last statement regarding the VIX and the Mkts,
the stockmarket surged several hundred points and the SPX rallied 100
points...I must reiterate that the VIX is NOT a long-term indicator -
strictly short term...However, based on the VIX and its current
overextended position ( now trading at 53.39, currently up a whopping
19 % ) , the mkts are ripe for a turnaround here...The SPX is also
trading at 1037, sever3ely oversold.. Look for at least a short-term
turnaround from these levels - a great point at which to begin bottom-
fishing. The Nasdaq stocks look attractive to me at these
levels..Again, the VIX is spiking significantly today and indicating
at least a reflexive move to the upside is imminent. Have a good day
trading. Sincerely, hg
>
>
> ----- Original Message ----
> From: rvdidit <rvdidit@...>
> To: advancedoptionstrategies@yahoogroups.com
> Sent: Monday, October 6, 2008 9:24:06 AM
> Subject: [Advanced Option Strategies] Re: The VIX & the Mkts...
>
>
> Hi all,
>
> Several months ago I predicted 50 to 60 on the VIX before this bear
> market action is over, based on a monthly chart 200 day moving
average.
>
> We hit a high over 48 last week and now the 200 DMA has picked up
> momentum in the UP direction..
>
> I maintain my prediction, at least.
> Any short positions on the VIX have probably been loosers?
>
> RVD
> >
> > Wednesday , 9-17-08 , 10:10am...Based on my reading of the VIX
> currently, it is time for a turnaround in this mkt at any time...The
> Dow is currently - 149 and the S&P is currently trading @
> 1195...Expect a rally at any time now..To those daytraders out
there -
> I'm recommending you go long the SPX or the NDX 100 and write puts
on
> either of these indexes now...Have a nice day trading...Sincerely ,
hg
> >
> >
> >
> >
> > [Non-text portions of this message have been removed]
> >
>
>
>
>
>
>
> [Non-text portions of this message have been removed]
>