iPath Series B S&P 500 VIX Short-Term Futures ETNArca
Description
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Volatility looks like it's forming an inverse head and shoulders, which is telling me that if price is to hold at the lower resistances, it should setup for a great long term buy and also start a more violent selloff in the S&P.
I'd play this through options. If price holds that $20-21 region, then I think it's a good time to buy March 2024 calls or Sep 2024 calls (or both).
Depends on timeframe. I think you could do 20C Dec 15 as the safest play for short term. Long term I think this is the bottom so you could also do sept 2024 at $25 or 30calls