VIX
A 30-day expected volatility index derived from S&P 500 options, known as the "fear index." Above 20 signals unease, above 30 is the stress zone.
VIX moves inversely to price: it spikes when the index falls sharply. A low-VIX environment (12-15) means tight ranges and mean reversion; a high-VIX environment means wide ranges and trending moves.
VIX itself trades through futures and ETFs, but by design it isn't suited to holding for the long term.
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