the 3 month chart of Vix shows that it spikes up when it touches this level plus October is when corrections happen according to a lot of media because of Black Monday on Oct 19, 1987. We're in for two weeks of quick drops so a lot of money can be made using short term options knowing this information. I personally had 1000 puts on SQ, but a few hundred of them expired worthless on Friday. Probably will top up a few hundred cheap puts next week.
Gold looks weaker than the SPY so I think gold miners will fall even harder.
Gold looks weaker than the SPY so I think gold miners will fall even harder.