When "Boring" Means Risky

With the VIX at lofty levels, options traders worry that the potential dangers in the market outweigh the potential rewards.

When the VIX is high—and it recently hovered around a lofty 35—it's a sign of fear. It means people are buying puts, which let them sell a stock to someone at a certain price. And they certainly don't want to sell the stock because they think its price is going up.

Buying fear is a good trade, just as selling confidence is usually a good sale. Why? Extreme emotions often precede opposite crowd reactions.
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source: barrons