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Options Action: Vix

The Vix surged on Tuesday recording its highest one-day jump since May 20, 2010.

As fear returns to the markets, how can you profit?

Get all the details from Options Action trader Scott Nations of NationShares.

Watch the video now!



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Trader disclosure: On Feb 22, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Seymour owns (AAPL); Semour owns (BAC); Seymour owns (F); Seymour's firm is short (FXI); Seymour owns (GM); Seymour owns (INTC); Seymour's firm is short (POT); Seymour owns (TTM); Adami Owns (AGU); Adami Owns (C); Adami Owns (GS); Adami Owns (INTC); Adami Owns (MSFT); Adami Owns (NUE); Adami Owns (BTU); Adami's wife works for (MRK); Weiss owns (AAPL); Weiss owns (AGU); Weiss owns (CSCO); Weiss owns (IPI); Weiss owns (JPM); Weiss owns (MSFT); Weiss owns (QCOM); Weiss owns (VZ); Weiss owns (COP); Weiss owns (DVN); Weiss owns (MEE); Weiss owns (BTU); Weiss owns (CNX); Weiss owns (HK); Terranova Owns (VRTS); Terranova Owns (C); Terranova Owns (UPL); Terranova Owns (GM); Terranova Owns (MS); Terranova Owns (SLXP); Terranova owns (TEVA); Terranova Owns (BAX); Terranova Owns (CVI); Terranova Owns (RSX); Terranova Owns (SU); Terranova Owns (CNQ)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
Virtus Investment Partners Owns More Than 1% Of (CCG)
Virtus Investment Partners Owns More Than 1% Of (CASS)
Virtus Investment Partners Owns More Than 1% Of (CSVI)
Virtus Investment Partners Owns More Than 1% Of (EXR)
Virtus Investment Partners Owns More Than 1% Of (FCFS)
Virtus Investment Partners Owns More Than 1% Of (IGE)
Virtus Investment Partners Owns More Than 1% Of (KRC)
Virtus Investment Partners Owns More Than 1% Of (LDR)
Virtus Investment Partners Owns More Than 1% Of (LPHI)
Virtus Investment Partners Owns More Than 1% Of (NRCI)
Virtus Investment Partners Owns More Than 1% Of (DBV)
Virtus Investment Partners Owns More Than 1% Of (XLB)
Virtus Investment Partners Owns More Than 1% Of (XLV)
Virtus Investment Partners Owns More Than 1% Of (XLP)
Virtus Investment Partners Owns More Than 1% Of (XLY)
Virtus Investment Partners Owns More Than 1% Of (XLE)
Virtus Investment Partners Owns More Than 1% Of (XLF)
Virtus Investment Partners Owns More Than 1% Of (XLI)
Virtus Investment Partners Owns More Than 1% Of (XLK)
Virtus Investment Partners Owns More Than 1% Of (XLU)
Virtus Investment Partners Owns More Than 1% Of (SUBK)
Virtus Investment Partners Owns More Than 1% Of (WDFC)
Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of (DPUKF)

For Brian Kelly
Accounts Managed By Kanundrum Capital Own (AGO)
Accounts Managed By Kanundrum Capital Own (AMD)
Accounts Managed By Kanundrum Capital Own (INTC)
Accounts Managed By Kanundrum Capital Own (ATW)
Accounts Managed By Kanundrum Capital Own (DBA)
Accounts Managed By Kanundrum Capital Own (EBAY)
Accounts Managed By Kanundrum Capital Own (FRO)
Accounts Managed By Kanundrum Capital Own (MCP)
Accounts Managed By Kanundrum Capital Own (PGH)
Accounts Managed By Kanundrum Capital Own (PWE)
Accounts Managed By Kanundrum Capital Own (SLV)
Accounts Managed By Kanundrum Capital Own (IAU)
Accounts Managed By Kanundrum Capital Own (TER)
Accounts Managed By Kanundrum Capital Own (TLT)
Accounts Managed By Kanundrum Capital Are Long Treasury Bond Futures
Accounts Managed By Kanundrum Capital Are Long Oil Futures
Accounts Managed By Kanundrum Capital Are Long The Euro
Accounts Managed By Kanundrum Capital Are Long the British Pound
Accounts Managed By Kanundrum Capital Are Short The Australian Dollar
Accounts Managed By Kanundrum Capital Are Short The U.S. Dollar

For Dennis Gartman
Funds managed by Dennis Gartman are long Aussie Dollars
Funds managed by Dennis Gartman are long Canadian Dollars
Funds managed by Dennis Gartman are long Gold
Funds managed by Dennis Gartman are long Wheat
Funds managed by Dennis Gartman are long Corn
Funds managed by Dennis Gartman are long Soybeans
Funds managed by Dennis Gartman are long Sugar
Funds managed by Dennis Gartman are long Crude
Funds managed by Dennis Gartman are long Natural Gas
Funds managed by Dennis Gartman are short Euros
Funds managed by Dennis Gartman are short British Pound Sterling
Funds managed by Dennis Gartman are short Yen

For Anthony Scaramucci
SkyBridge Capital is a fund of funds manager. Funds held may or may not own the recommended securities.

For Andy Busch
Busch has no disclosures

For Rich Ilczyszyn
Ilczyszyn has no disclosures

For Scott Nations
Nations has no disclosures

For Gene Munster
(ACOM), (DANG), (DRIV), (LOGM), (MOBI), (RLOC), (YOKU) have been investment banking clients of Piper Jaffray during the past 12 months
Piper Jaffray expects to have (DANG), (DRIV), (MOBI), (YOKU) as investment banking clients within the next three months
Other material conflicts of interest for Gene Munster or Piper Jaffray regarding companies in my universe for which I am aware include (ACOM), (DANG), (DRIV), (MOBI), (RLOC), (YOKU): underwriting
Piper Jaffray received non-investment banking securities-related compensation from (DRIV) during the past 12 months
Piper Jaffray makes a market in (AAPL), (ACOM), (AMZN), (BIDU), (DANG), (DRIV), (EBAY), (FMCN), (GOOG), (GSIC), (IACI), (KONG), (LOGM), (MCHX), (MELI), (MOBI), (PRTS), (RLOC), (SINA), (SOHU), (VCLK), (WWWW), (YHOO), (YOKU) and will buy and sell the securities of these companies on a principal basis:

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