VIX spiked to 65 on Monday's Open. That means the Sep 18th $35C was 30 points in-the-money. You can buy those calls today at close to $1.00. Minimum expectation is another run at that high and anywhere from 5X to 30X on the calls. Don't bet the farm, but maybe a calf...or two. The bet here is that the volatility we saw for a few hours on Monday is just the beginning of something no one is expecting and if it happens again and anytime soon, real panic will ensue. VIX - Weekly VIX Calls
