macrocephalopod

VIX is severely in backwardation here per the term structure. Will go short vol overnight and sell at open, let's see what happens.

FWIW I think @SinclairEuan wrote about strategies for this and the turns out you should be long VIX when the curve is in backwardation and short when its in contango. I don't trade it so I could be misremembering

I am that's why @sajidnizami was saying long vol, but that's not account for the fact that you already detected the move went long vol and have not flipped the position short. ideally you'd do something like ratio (or calendar) so you can come out the other side if wrong

Going long/short VIX futs based on contango/backwdtn is the kind of dumb shit that quant funds do when they think they’re smarter than they are and it eventually blows up on them. At minimum you need to account for expected spot drift (I think @bennpeifert wrote about it once..)

she's NOT trading the futures and I already pointed out that trading vix futures spreads is a good way to blow uphttps://twitter.com/FREAK0NAUT/status/1354539155397763072 …