VIX - Daily - A recent spike could provide a possible short opportunity.

The VIX is a volatility index that tracks market volatility. A higher prices suggests more a more volatile market and vice versa.

From a technical aspect, the VIX is near overbought territory on the daily timeframe again, but not quite yet (61.3 on the RSI).  The original trade worked out quite well just a few days back dropping to a low of around 26.4. This spike could provide another short opportunity as the market could recover or bounce a little from its current pricing. If this happens, the VIX could fall below 30 again. Towards the upside, resistance is above at 34.5 followed by 35. A break above here could take the VIX towards 40, but its been a while since this level has been since and it would very likely retract back. Risk management is important on VIX trades and spikes can happen very fast, but the opportunity cost can also be worth it.