Good point. Another consideration on the $VIX is if you look at a long-term weekly chart of the VIX going back a decade or so, you’ll note that during the spikes off of the low-end of the range, the VIX typically only remains at elevated levels for a few weeks to no more than a few months before falling back down (which means the market started to rally at that point). The current elevated trading range in the VIX is now entered its second month.