bhanacik said:
What plays do you play off of when referencing VIX? Specific stocks or indices?
I've noticed a few stocks are very correlated to the VIX and some not as much. SNAP being one that seems very correlated
Mostly SPY and QQQ, because I don't end up with wide bid/ ask or other issues like NVDA being held down (to kill premium).
I rarely do 0dte b/c the premium burn kills you unless it's a very quick scalp or a tiny lotto. I go out about a week and out of the money.
I also chart VIX in the morning after the first hour to see if I can pick up on a trend (wedge, megaphone, channel, etc.). Then if I see VIX bounce off my trend lines I know I'm onto something. I'll post a chart after the morning shakeout if I notice something.
also the 2nd morning dip has been very trade-able lately, not saying it always will. Look for the W and ideally 2nd dip has a higher low.