With US equities seeing another day of broad weakness, the VIX was naturally on the rise, settling +21.4% @ 24.99. Near term outlook offers the sp'1920/00 zone, and that might equate to VIX in the low 30s. If next Monday is crashy to the sp'1700s though... VIX will explode to the 55/65 zone.
re: VIX 55/65
If the Friday equity close is at/near the lows of the day/week - in the sp'1920/00 zone, then the outlook for the Monday open will be exceptionally bearish.
If equities opened lower by 5-7%, then VIX would jump into the 50s.. perhaps even 60s.
There should be clarity of whether that scenario is viable at 3.55pm Friday.
*I am long VIX via TVIX. I am seeking at least another push higher in the VIX, but with a viable explosion next Monday.
more later... on the indexes