How do you all decide between going long or short on volatility? I’ve been burned before trying to short VIX spikes, but at the same time, playing long vol feels like death by a thousand cuts when the market grinds higher. Do you trade volatility ETFs, or do you just avoid the headache altogether?

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Volatility is tricky because timing is everything. If you short the VIX too early, you get obliterated. If you go long vol, you slowly bleed out. I only trade volatility with spreads (like VXX or UVXY put spreads) to limit risk. Also, VIX spikes almost always fade—but not always on your timeline.

Volatility trading is the financial equivalent of trying to catch a knife while blindfolded. Either you time it perfectly, or you bleed out. No in-between.

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