As I regularly note, a VIX under 20, means any index declines are to treated with great caution. Remember that Monday a few weeks ago, where we opened with VIX +26% to 20, and dow -239, it sure didn't close that way.
VIX'60min
VIX, daily
Summary
There a few out there touting 'VIX to hit 10...or even <10' in the coming months, I'm not one of them. Even if the main indexes break >1422, I can't see VIX that low.
It remains a remarkably cheap time to buy VIX calls, as ever..timing is everything, and besides, whilst the main index trends are UP, its still kinda risky.
More to come!