Very well. Favorite trade right now is short the strip of vix futures versus long S&P forward starting atm volatility, say 2-6 month maturity range. References below, no financial advice etc.
this is generally a "don't try this at home, kids" situation. involves trading a potentially large number of options against vix futures and rebalancing them dynamically to keep the pure forward volatility exposure as the market moves
the implications outside professional volatility trading are "vix products are expensive and may reprice lower even without overall volatility falling"
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