The attached chart is of the VIX short term ETF symbol UVXY. The VIX is an index that moves inversely to the SP 500. It is often used as a hedge during volatile times as the UXVY increases if downside volatility in the SP 500 increases. As you can see by the attached chart the value of the UVXY ETF has been cut in half from above 20 a few weeks ago to around 10 currently. The January or March call options look like a reasonable bet here.

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All that needs to happen is VIX move one time before expiry and these options are likely going to pay. So it is not a precise entry by any means. Right now January 10 call options are less than $1.5. A month ago the UVXY was above 20 and these call options were above $10.00.  So if you believe it’s a reasonable bet we get a move, particularly before the March calls expire, these calls look like a bargain here.  One thing …. I do not believe that the move in the UXVY calls will start during the real time session … rather I think a move will happen overnight and they will gap and go when the time comes. Therefore one has kinda got in when the action is dull.