The VIX Strategy I Use to Capture Volatility Spikes

by Roger Scott | Sep 24, 2026

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Volatility is at one of those levels again — the kind that always gets my attention.

When the VIX trades near 14 like it’s been this week, I see opportunity. Not the flashy, all-or-nothing kind, but the systematic, probability-based kind that has made me money repeatedly.

Right now, the VIX is near the low levels where I consider buying six-month call options.

The Pattern That Repeats Every Quarter

Markets typically produce two moves into the 20 to 30 range in the VIX each quarter. It is not guaranteed of course, but the pattern has occurred consistently enough to build a strategy around.

When volatility sits near 14, it is compressed. That is when I look for VIX call options close to the money and about six months from expiration. The longer duration provides enough runway to potentially capture one or more volatility expansions while reducing the pressure of short-term time decay.

I do not mess around with far out-of-the-money (OTM) lottery tickets. Staying close to the money improves the likelihood that the options gain meaningful value if the VIX moves toward 20 to 23.

Some readers who have followed this approach in the past know exactly what I mean. Those who entered near previous lows had an opportunity to unload their positions during the recent volatility spike for a solid gain. That real-time example shows why the entry level, duration and exit discipline all matter.

What Could Trigger the Next Move

The VIX does not move in isolation. I’m watching the bond market closely because it’s beginning to curl in a way I do not like. A meaningful shift in bonds can affect interest-rate expectations, pressure equities and quickly increase demand for protection — all of which can lift volatility.

At the same time, the market may first produce an inside day without much directional bias. Prices could also drift back toward the 100-day moving average over the next few sessions. Neither outcome guarantees a VIX spike, but both reinforce the value of preparing before volatility expands rather than chasing it afterward.

The good news is that we are back near the entry zone. The risk-reward can be attractive because you’re buying when volatility is relatively low and positioning for moves that occur regularly.

You do not need to predict a black swan or time the exact turning point.

This strategy will not work every time, as no strategy does, and six-month options can still lose value or expire worthless. Position sizing matters. But when the VIX is near 14, bonds are showing signs of stress and the broader market is approaching an important technical area, patience and preparation can work in your favor.

The VIX will not stay near 14 forever. It rarely does.

I hope that helps!

Roger Scott
Roger Scott Trading

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