The next ten days will be punctuated by a slew of economic indicators that will be released as the economy takes center stage over inflation and the Fed. Any one of these could become the spark, i.e., jobless claims due out Thursday. Other notable releases will be TSLA earnings on Wednesday and the FOMC meeting and word salad to be released February 1st mid-session. Nonetheless, not one of these news-events is trade worthy, only price movement on our charts and above and below key levels matters. The one chart front and center this week is VIX, which is still currently sitting below 20.00. Only a move above 20 and with some momentum will trigger our Long VIX/VXX/UVXY option trade (VIX Heads-Up). Calls going out to Feb 17th, Mar 17th and beyond are all candidates as we look for multi-fold returns from a spike in volatility over the next 30-60 days. This time, I'm willing to be a day late than a month early, the payoff is that huge. Expect to be in this trade sometime in the next 10 trading days. Volatility Trade Pending Anytime VIX gaps up 5%, or is up 10% from the previous day's close, check the PRO Website for a fresh volatility trade. VIX - Daily TRADE PENDING: EXAMPLE VIX Mar 22nd $25C (1.62-1.67) Minimum Target: VIX $30; $25C = 5.00 Extended Target: VIX $40; $25C = 15.00
