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Chicago trader: Profit from 2015 volatility

Trader on the floor of the New York Stock Exchange.
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Trader on the floor of the New York Stock Exchange.

The VIX is not broken, it's just cheap.

The CBOE Volatility Index is simply a calculation that measures the prices investors are willing to pay for a wide range of call and put options on the S&P 500. This calculation reveals the 30-day implied volatility, and therefore, expectations of market movements.