Is VIX worth anything?

You have to time it right, if you are playing options. VIX can hover around the lows for months and months with low relative volatility before spiking up, and then often spikes back down real fast too. Catching the spikes are hard to time.

Having said that, I think it's about time the VIX started to get volatile again, in the next few weeks/months...however, people were thinking that a couple of months ago too.

>>2449548
Problem is you can't directly buy the VIX, you have to buy a related instrument such as UVXY - and these instruments suffer from decay over medium/long term. That said VIX is incredibly low right now especially when considering the amount of shit going down in the world, it may very well be time to start buying.

It's worth noting that some funds have been actively shorting volatility as a strategy lately (something which will end in disaster) so any spike in the VIX which will be much more extreme than in previous cases due to short covering and possibly even margin calls.