VIX at multi year lows, and I think the markets are complacent. The S&P is as high as during the dot com bubble and as 07 before the bubble burst. What warrents it to be this high? Not fundamental growth or spending, but resolution of three main crises, US, Europe, and China. Yet, growth in 2013 is nothing for certain, but the market seems to be poised for a secular market. Buy VIX calls with limited downside but tremendous upside. Potential triggers include Debt Ceiling, Currency War, Slow Growth, and Geopolitical Risk.