VIX Trajectories

For the VIX we are in load up zone, whether for speculation or hedging.

I've mentioned before I think 12-12.50s come with bounces to 18-19 until we get the next rate reduction that pushes us towards sub $12, that's been my bias, next leg down could be it but i assign the following:

85% probability $12 holds we go to $17/$18

10% we dip to $10-$11

5% something in the middle.