While most investors are scrambling to figure out whether the market is headed up or down, I use the VIX both as means of protection and a source of profit.
As a an options trader and market maker this was an indicator I checked several times a day and made adjustments to positions accordingly.
Eventually I helped develop the first VIX instruments available to traders and investors.
This indicator has been a crucial part of my success as a trader because the VIX not only gives you an idea of how uneasy people are about the markets... it tells you whether or not the markets have reached an extreme level of sentiment - either bullish or bearish. (more)
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