THE ULTIMATE VIX PLAYBOOK

How Volatility Actually Works, Why It Behaves the Way It Does, and How to Trade It Without Getting Vaporized

Volatility is the closest thing finance has to controlled fire. Touch it correctly and it forges gains with astonishing speed; touch it casually and it burns your account to ash. The VIX — that constantly misunderstood number sitting on CNBC’s ticker — is not a fear gauge, not a stock, and not a direct expression of market panic. It is an implication ma…