I have been exclusively (obsessively) tracking, objectifying, trading volatility since last 12 yrs. My father during his prime time in the 90s was a directional player because there were no options back then. Volatility is hidden in the depths of vega & delta moves combined(1/3)
Simply following Vix isn't enough. IVs will rise and then they will fall, coupled with or without delta moves, which increase adjustment cost. As an option trader one has to be in the know of where in the broad spectrum of option chain is the volatility manifesting.(2/3)
I strongly believe that if we can grasp it, then market direction can also be cashed in plus theta decay which is ever present. All the media, news is used to increase or decrease volatility, so it's wise to narrow down our focus in the present moment on how it's playing.(3/3)