How Many of You Play the VIX?

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With interest rates basically consolidating for 3 years after a big run up off of the Covid lows in interest rates, the bond charts look about ready to make another run up.

Volatility looks extremely interesting right here IMHO.

I heard an interview with Stan Druckenmiller saying that he made 70% of his money in Bear Markets.

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This reads like three tangentially related thoughts rather than an actual topic.

Anyway, you can't trade VIX directly. You're either using options, futures, or some ETF or ETN holdng options or futures. Long VIX, you're losing money to theta while waiting for your catalyst (unless you're the option writer, of course), or your futures are dropping as they approach expiry as the cost of carry declines (and then you have to purchase another, more expensive contract to maintain the position). Combine that with management fees for ETF/Ns, and you'll understand why VXX is down something like 99% in 8 1/2 years.

Shorting VIX futures and selling options will make money due to the mechanics stated above, but they come with severe downside risk. Just type SVXY into Google and select Max on the chart to see for yourself. XIV, an alternative, shut down due to 90+% losses in a single day after rebalancing in afterhours.

If you're not using VIX has a hedge or have a quantified edge, the odds are you're going to bleed money on the position eventually.