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Does anyone have experience trading VIX options as a means to take advantage of days/weeks/months where fear seems to rule the market?

I've recently considered selling puts between 15-20 when the vix was under 20 and then writing calls against some blocks if/when they were assigned.

Maybe even setting up some kind of synthetic long during "good" times and collecting a small premium as a reward while waiting for the next "crisis" to appear.

The idea is to try and take advantage of short term volatility to soften the blow on some deep in the money call leaps that I have.

Note these would be small blocks of trading positions (1-3 of them) and not "foolish investments".

Thoughts? Thanks.
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